Importance Of A Cloud-based E-procurement Solution

It is easy for organizations to get confused and come to the wrong conclusion about the implementation of a digital procurement solution. The truth is, with the rise in globalization, there is a rise in global supply chains. In these evolving times, we think that an eProcurement solution makes more sense than ever.

Shifting from a traditional procurement system to a digital procurement solution should be considered as a strategic investment rather than an expense to your organization. Investing in a cloud-based digital procurement solution will impact your company’s bottom-line growth positively.

With the right eProcurement solution, you will be able to open new doors of efficiency and opportunity. An efficient digital procurement solution will be able to help you streamline your procurement processes.

Let’s take a look at the reasons why your organization should opt for a cloud-based digital procurement solution –
Reduced costs

With efficient eProcurement software in place, you can get things done faster as there is a structure to your procurement processes. Streamlined processes mean reduced expenses as every minute detail in the process is automated. There is less room for errors and this directly boosts bottom-line profits.

Faster and efficient approvals

With e-procurement, you can use electronic approvals instead of having to print out each purchase order and track down the right person to sign it. This means more orders will get approved on time. This guarantees the smooth functioning of the business with little or no manual disruption.

Workflow transparency

Every requisition, purchase order, and approval is recorded in the system. This way, your company will know about every transaction taking place and can track where the money is being spent exactly. Transaction tracking can help keep maverick spending in check and hence, this guarantees transparency. Even your invoices can be recorded and approved in the system.

Higher productivity

As we mentioned in the earlier points, because of an efficient eProcurement software you will already be saving a lot of time. This means that your employees will have extra time on their hands which they can use to do other productive activities. These activities can positively affect the working of the company and increase productivity in employees.

Analyze your spending in one place

Analyzing your spending will help you find out where you are overspending or could find better deals. It’s easy to keep ordering the same products from the same suppliers without looking at new opportunities. However, with cloud-based eProcurement software, you can easily track your order history and compare which supplier suits your needs best.

Less, or no paperwork

Because of cloud-based digital procurement software, everything you order, the supplier you choose, etc. are all in one system. With such streamlining of processes, you eliminate risk and maximize efficiency. More importantly, there is no hassle of maintaining physical files and records.

Eyvo can help!

Eyvo has been in the eProcurement business for over two decades. With our eBuyerAssist v1.5, you can easily track all your spending, pending approvals, re-order quantities, and dates, all in one place. Our new and improved modern dashboard lets you customize what you want to prioritize and which information you want to see first. Our improved design will make eProcurement easy and free-flowing.

Contact us to know more.