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The Benefits of E-procurement Simplified In these competitive and cost conscious times, e-procurement hold out the promise of saving companies large sums of money. An e-procurement system is effectively a seamless, business to business system that will ensure that the whole process is automated, taking the process of procurement up to a high level and creating a process for supply chain management that is efficient and robust. With e-procurement there is no undisciplined expenditure. It not only streamlines purchases, but also helps businesses save time which can be used on being more productive, creative and giving their customers the best service. The advantages of e-procurement are becoming more evident its uses have become apparent. It provides visibility into day-to-day transactions and makes it easier for users to get the supplies that they need. Electronic procurement holds out such a promise and is enticing ever-more businesses to move their purchasing online. Today’s competitive markets make it necessary for authorized purchasers to order the correct products from the right suppliers on the best possible terms. The right e-procurement process automates the procurement or purchasing process and integrates a company’s buyers with its suppliers collectively with the applicable IT systems on both sides. Some of the other benefits include •

Cost reduction

All e-procurement systems are cost effective as they eliminate the need for paperwork. There is no wastage of time, improved transport logistics which result in a number of environmental benefits as well. •

Tracking of Orders

With an efficient e-procurement system, it is possible to track supplies so that it is possible to know where they are and when they can be expected within the company. As more and more companies essentially require supplies to be provided in a timely manner, e-procurement is just the right solution. • Controls Consistent approval processes and formal workflows make certain that the exact level of agreement is applied to each transaction and that spend is directed to draw off existing contracts. As users can quickly locate products and services from preferred suppliers, compliance to policy is enhanced. An efficient e-Procurement process can automate the procurement workflow end-to-end, from the order to the delivery and invoicing thereby improving the organizational efficiency. It also reduces the administrative costs of all steps in the procurement process. With the right cloud based e-procurement process, there is a considerable enhancement in the company’s control over procurement activities at all levels. Click here to read more on:- Order fulfillment, Cloud process

The Benefits of E-procurement Simplified