E-procurement

 

E-procurement, also known as electronic procurement, is an internet based purchasing system used by businesses in order to receive goods and services at a faster and less costly rate.  Those are just a couple of the many advantages of E-procurement.  The benefits of E-procurement have led to an increasing number of companies to implement such systems in the efforts of increasing their ROI and to better serve customers.


Advantages of E-Procurement

  • With proper implementation E-procurement systems can connect businesses and their processes straight to suppliers.
  • Businesses are better able to manage their exchanges with vital suppliers because E-procurement is an organized form of open communication.
  • Decision making is made easier with time stamps and the organization of information.
  • Business transactions are made uniform with templates and easily tracked since managers can automatically see purchases.
  • The tracking ability of E-procurement allows managers to confirm pricing, cutting down on unnecessary purchases/costs.
  • E-procurement also saves buyer time because it eliminates phone calls and trips away from the office, since all purchases are made online right from their desk.
  • With instant order placement, shipping time is also reduced.
  • One other benefit of E-procurement is that firms have the ability to hone in on their most profitable contracts.

Implementation

  • There are 2 ways to implement an E-procurement system; step-by-step or by total replacement as known as a parallel system.
  • It is important when implementing an E-procurement system to be aware of your resources and time, especially if you choose the total replacement route.
  • Another consideration to keep in mind is that you may not see an immediate ROI due to the cost of training and equipment.  It generally takes 1-2 years to see a large ROI for an E-procurement system.

For more information or a quote contact RobotWorx at 740-251-4312.

 
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