What are the benefits of e-procurement?
E-procurement is the procurement of goods and services through the internet, and it can help manage recurring costs, increase efficiencies and ensure compliance with relevant policies which are part of the procurement process.
Whether your organisation is large or small, or in the public or private sector, it’s important to make sure you are managing your spending responsibly and that you are putting smart plans in place to increase productivity.
When it comes to the procurement process, advances in technology are changing the way buyers and suppliers procure goods and services. It is now easier than ever to manage and monitor performance of all contracts, tenders and documents in one central location through procurement management portals such as Delta eSourcing. This is helping organisations work more efficiently than ever, fulfilling requirements in a timely, cost-effective manner and allowing them to put strategic plans in place to mitigate risks which can crop up throughout the supply chain.
But what are the specific areas where e-procurement can bring the biggest benefits for your organisation?
First, using e-procurement software can yield significant cost reductions for your organisation.
This is because e-procurement and supply chain management portals can help organisations bring all of their purchasing information together into one interface, which gives greater visibility and control over spending. Managing all of your contracts through one portal can eliminate unnecessary spending, minimise overspending, and mitigate mismanagement costs.
Another benefit of e-procurement software is that it can increase productivity and generate greater efficiencies within your organisation – streamlining the procurement process without compromising on standards or quality.
E-procurement workflows can be defined, enforced and standardised across entire departments, and many procurement and supply chain management processes previously undertaken by a member of your team can be automated. For example, automating purchase orders and invoices electronically reduces the need for manual paperwork, and the team member who deals with this paperwork is free to work on other tasks.
Additionally, e-procurement is a more efficient way to manage contracts online as it can be used to make sure that all of your organisation’s contracts comply with relevant policies. Tools such as our own Tender Manager make sure that the entire tendering process is EU compliant, from online response evaluation to contract award. Standardising your processes through e-procurement methods will also cut down on avoidable administrative errors which can occur with paper-based methods.
Our own e-procurement system can help you deliver efficiency savings, cut budget spend, become more transparent and engage with suppliers more effectively. We provide a number of tools and resources to streamline your procurement methods, which gives you more flexibility at every stage of the tendering process.