The benefits of eProcurement are countless. It's not just increased savings, improved performance and zero errors you get, eProcurement enables procurement professionals to communicate effectively throughout the process while not compromising on standards and quality.
Key Benefits of Online Procurement Software
Let us take a look at the benefits you get and how eProcurement will make a significant impact on your bottom line:
Greater Transparency for Efficient Spend Control
With procurement software, you can implement spend controls, set budgetary constraints, and configure dynamic approval workflows with ongoing tracking for complete visibility. Making the procurement process electronic will improve transparency and helps in breaking down procurement silos.
Procurement Software Cuts Processing Costs by Half
Automation makes procurement cycle much faster by eliminating manual intervention. Buyers can compare the offers from eCatalog and store the records electronically. We have tie-ups with hundreds of vendors, meaning you can quickly review and compare the products right from the application.
Detailed Analytics to Drive Informed Decisions
Procurement software not only simplifies internal processes, but also provides insightful reports and analytics that allow you to set goals, and track progress in the real-time. Data can be analyzed and irregular patterns can be identified easily to take appropriate actions on the right time.
eProcurement makes it easy to purchase from preferred vendors, yielding you more savings by applying quantity discounts.
Dynamic Price change
The dynamic price change feature enables organizations to take advantage of huge savings by making the purchase at the right time. The only thing you have to do is to keep an eye on the market, and set alerts for significant price changes.
Besides time and cost savings, procurement software builds a platform that facilitates seamless interaction between vendors and suppliers throughout the procure-to-pay process.