Book a Demo
  • About Us
  • Solutions
    • Procure to Pay
    • e - Auction
      • Reverse Auction
      • Logistic Auction
      • Forward Auction
    • Contract Management
    • Catalog Management
    • e-Invoice Management
  • Services
    • Spend Analysis
    • Tracking Management
      • Savings Tracking
      • Material Tracking
    • Project Management
      • Project Management
      • Requisition Processing
      • Finance Approvals
      • Data Analytics
    • Vendor Management
      • Vendor Profiling
      • Strategic Vendor Sourcing
      • Supplier Risk Management
  • Industries
    • Pharmaceutical
    • Hospitals
    • Energy
    • Infrastructure & Construction
    • Agri & Poultry
    • Manufacturing
    • Others
  • Resource
    • Blogs
    • White Papers
    • Customers
    • Reviews in Gartner
    • Media & Awards
    • Careers
    • FAQ

Why Are New Age Procurement Solutions Superior to Traditional ERP

When it comes to managing your supply chain, you as an organization have access to a wide variety of software options. There are a number of different e-procurement solutions available to you to choose from, ranging from ERP to CRM and everything in between.

The top six reasons why an e-procurement solution is superior to traditional ERP tools will be discussed in this blog post. Check out the top six reasons why a sourcing solution is superior to an ERP tool if you want to improve your supply chain and eliminate the manual procedures associated with ERP systems.

Centralized Data with Simplified Solutions

When you use an e-procurement solution, you simplify your entire business. Key areas like inventory, finance, and sales and service processes will be streamlined. As a result, you can view all of your organization's most important metrics from a single dashboard.

When ERP systems are used, important metrics like sales, inventory levels, and service levels cannot be easily viewed. You can view all of your important metrics on a single dashboard with an e-procurement solution. As a result, you won't have to spend hours perusing a variety of dashboards to ensure that your business is operating smoothly.

Process Automation

When you use automated processes, you get a solution that is fully integrated. You might need to follow manual procedures with ERP systems. If you had an e-procurement solution, you wouldn't have to spend as much time on manual tasks. There are no manual procedures to implement when automated procedures are powered by the appropriate procurement software that matches your business model.

The smart utilization of mechanization, reports say, can decrease the obtainment headcount by up to 80 percent, which will bring about direct reserve funds for your business. The slowdown caused by human intervention can be significantly sped up and procurement can be completed more quickly with automation.

Dynamic Reporting System

When utilizing an e-procurement solution, a robust reporting feature is essential. You will actually want to effectively see information that you might not have in any case, alongside key measurements as an association. Tools that report data on demand are built into each procurement solution.

Predictive Analytics

An essential component of an e-procurement solution is predictive analytics. With prescriptive examination, you're ready to set KPIs for various divisions in your association, like team leads or obtainment chiefs. With this information, you will be able to make the best decisions regarding procurement and warehousing, which will ultimately result in profits for your company.

Data-Driven Workforce Management

Data-driven workforce development and talent management are two additional essential components of an e-procurement solution. You'll be able to set objectives for employees, like how many deals each employee closes. In addition, when your workforce development is driven by data, you can make decisions that are more well-informed, calibrated, and in line with your procurement model's requirements. Better than a large, sluggish procurement team is one that is lean and mean.

Collaborative Communication Environment

A collaborative environment is another essential component of all procurement solutions. You will be able to encourage teamwork in a collaborative environment. The efficiency of your workforce will be evident. As a result, the decision-making process moves more quickly. Additionally, consistent correspondence guarantees that assignments get finished within the specified time and don't delay perpetually, adding to the expense. In a nutshell, this has the potential to lower inventory costs and enhance logistics.

The increasing complexity of supply chains is one of today's most significant challenges for businesses. Even if they are less complicated, managing sourcing solutions is difficult. Your workload can be significantly reduced if you have software solutions that simplify the

Latest Posts

The Impact Of Smart Vendor Management On Your Business

June 7, 2023

The Benefits Of Utilising A Dedicated Procurement Software For Streamlining Sourcing

May 17, 2023

6 ways ChatGPT will Impact Procurement in 2023

May 10, 2023

Cost Effective Strategies for Success

April 27, 2023

Maximizing Your Supplier Relationship Management

April 13, 2023

Why Should You Invest In Sourcing Management Software

April 05, 2023

The Impact Of Digital Transformation On Procurement

March 28, 2023

Why Are New Age Procurement Solutions Superior To Traditional ERP

March 24, 2023

Leveraging KPIs for Measuring Procurement Performance

March 21, 2023

Maximizing Efficiency with Digitized Direct and Indirect Materials Procurement Software

March 07, 2023

Unlocking the Potential of the Manufacturing Sector: A Comprehensive Guide to the Ten Procurement Challenges of 2023

March 06, 2023

10 Purchasing Problems Faced by Purchasing Manager

March 3, 2023

Challenges Involved in Procurement Process and Ways to Manage

May 12, 2022

Procurement Strategy Best Practices

April 21, 2022

Impact of AI on Procurement

March 28, 2022

What is Procurement?

March 13, 2022

eProcurement Software for Robust Spend Analysis

February 28, 2022

Impact of e-procurement in procurement world

February 14, 2022

The Brand Behind Procurement Savings

January 28, 2022

Key Trends that Transforms the Procurement Industry

December 2, 2021

Know more about ROI

November 17, 2021

Read about IOT

October 10, 2021

Read more about AI in procurement

September 17, 2021

Dig Deeper to know about Data Analytics

August 11, 2021

Purchase process automation... will it make any difference??

July 18, 2021

how engaged is your procurement team?

June 5, 2021

not just the price, time matters too !!

May 12, 2021

can we create savings while buying?

April 2, 2021

AI Procurement Automation

March 6, 2021

why should you choose e-procurement system over a traditional erp to transform purchasing experience?

February 4, 2021

Block Chain technology

January 11, 2021

Quick Links

  • About Us
  • Blog
  • Customers
  • FAQ
  • Careers

Solutions

  • Procure to Pay
  • e - Auction
  • Contract Management
  • Catalog Management
  • e-Invoice Management

Services

  • Spend Analysis
  • Tracking Management
  • Project Management
  • Vendor Management

Industries

  • Pharmaceutical
  • Hospitals
  • Energy
  • Infrastructure & Construction
  • Agri & Poultry
  • Manufacturing
  • Others

Resources

  • Blogs
  • White Papers
  • Customers
  • Reviews in Gartner
  • Media & Awards
  • Careers
  • FAQ

PRM Trust Center

  • Privacy Policy
  • Social Media Policy
  • IP Policy
  • ISO 27001:2013
  • Terms & Conditions
  • PRM360 GDPR

Copyright © 2021 PRM360. A Product of Acads360 India Pvt Ltd.

Contact us
  • +91 8247041060
  • info@prm360.com