As more and more people embrace the virtual world, advantages of e procurement are becoming more evident and apparent. E procurement is something which is not new, and has been around for quite sometime. However, many small businesses when asked about the shift towards e procurement, document signs of scepticism, as they are still apprehensive of its mechanism, and them opening up their organization to privacy concerns and errors. Not to mention the time it’ll take their team to learn a new process.
The world at large probably has heard pitches about the benefits of making all your processes electronic. However, there are some crucial benefits to e procurement which every business owner must pay heed towards.
Many organisations are haunted by inefficiencies in placing orders and managing purchases according to schedule. This can lead to disorganization deep within their policies, which may become hard to change at a later stage. One fast, flexible and effective solution to decluttering this procurement mess is shifting to e procurement. In addition, you get a centralized purchasing system too.
Reporting and Reconciliation
A key problem in offline procurement is discrepancies in purchases and invoices. However, this reconciliation issue tends to be pushed in the background as businesses tend to focus on main tasks. Plus, it is difficult to generate reports on procurement as well as gather data on historical approvals using a manual system. E-procurement software can help to resolve this issue as it offers customizable reporting.
One big advantage of adapting to e procurement is that it helps in drastically reducing costs. You are not required to hop from supplier to supplier in search of proper quotes, as you can easily find one online, at just a click’s moment! Cost comparisons are simplified, and there are no licensing charges or other hidden fees. In addition, your employees can save time with this software and spend it productively on important tasks.