Why Are Purchasing Software Systems Gaining So Much Importance?

Rising Importance of a Procurement Software

Only five ?  Well lets just say this is the first five. In order for your company to thrive and grow, it needs to cut down on cost and alleviate potential risks.  Implementing new state of the art Purchasing Software System (aka e-procurement software) can certainly help companies achieve a stable business structure free of potential problems related to how their business procurement process functions.

Companies lacking this software are opening their doors for potential risks. Businesses need to take precautionary measures to decrease the incoming risks by integrating e-procurement software. Therefore, it is necessary for a business to distinguish between different offerings from unsuited software (e.g. Quickbooks) all the way up to  reliable Purchasing Software Solution thats designed for the task at hand ; and that delivers  the following attributes:

1 Easy to Adopt

From the moment of its first installation – If it takes longer than half a day to get your first PO out of the system then its too complicated !   E-procurement software should be easy to learn, so everyone from requestors, to buyers, to managers, approvers and suppliers can use the system with ease.   Instead of manually dealing with the paper requisitions and associated daily tasks, employees will have the opportunity to use a flawless system that does not require you to go through intense training to learn it.     In addition, using the system will increase your productivity, which means more work can be done during the day.

2 Easy to Integrate in all Business Cultures

If you are a multi-national organization, then the e-procurement software should be versatile, which means small and large enterprises should be able to adopt it.   These institutions may need currency management,   manage different tax regimens, support plenty of payment methods and require multiple  languages and fonts all in the same system.

3 Comes with Many Deployment and licencing Options

Deployment options are essential for every business to have access to, as it provides them with internal control, increased communication with suppliers, and visibility of internal contracts.   So is it self-install ? Is it on-premises ? Is it SaaS ?  What are the licencing models ?  Per server, Per user ?   Per transaction ?  If  the e-procurement system fails to provide deployment options to the company, they are less likely to improve the company’s relationship with the suppliers. Furthermore, a system consisting of these options will help to streamline the whole process better.

4 Comes with Built-in Controls to Perform the Purchasing Cycle

The biggest benefit of having an e-procurement system is the built-in controls and audit steps included to streamline the purchasing process. Thanks to these controls, users within the company will be able to perform the steps involved in the purchasing cycle and line managers will be able to monitor each step.

5 Completely Replace the Manual Purchasing Process

A company needs to pay special attention to the documents it is sending out.  Manually performing such tasks can lead to missing documents and delayed paperwork. Therefore, requisitions, catalogs, punchout, POs, invoices, and supplier questionnaires should all go through a fully electronic process.

A fully electronic process ensures that the personnel will manage documents during the purchasing process far more efficiently.   Although you can have a system that is partially automated, it would only slightly reduce problems with loose paper trails.

Clearly there are many benefits in using an automates purchasing software solution – The solution offered by Eyvo has many such advantages –  If you are trying to implement change in your company, you should begin by incorporating a solid purchasing system  consisting of at least these 5  fantastic features and you will have your company functioning in a well-organized fashion in no time.

Contact Us today to ask for a free demo of the Eyvo eBuyerAssist solution.  We look forward to helping improve your company’s operations.