E-Procurement Benefits

Here are some of the advantages of E-procurement to your business.

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Save money

Save money by reducing fraudulent spending, spending over the approved Budget, consolidating similar orders to take advantage of bulk discounts or from negotiated discounts received from Suppliers since you can easily see how much you spend with them.

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Remove approval bottlenecks

Eliminate delays that arise from manual intervention and busy schedule of approvers.

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Real-time spend visibility

Get real-time visibility where it matters, such as approvals that take the longest, Suppliers you buy from often for better negotiation, time spent to pay invoices so you can take advantage of early pay discounts and optimize cash flow, etc.

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Reduced rogue spending

Keep the team away from either buying items without proper approvals, or buying a different item than what was approved.

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Happier stakeholders

Faster turnaround time from automated processes means happier stakeholders!

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Gain Control

You gain greater flexibility and control over every aspect of your purchasing process and determine who can raise orders, approve, receive and pay for items.

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Mitigate procurement risks

Mitigate supply chain risks from reduced processing time, purchase-to-pay cycle and through enabling procurement teams to buy smarter.

Reduce operational risk of duplicate payments and off-catalog purchases through seamless collaboration.

Enforce policies to ensure that buyers abide by budgets, processes, and product restrictions.

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Eliminate data silos – All procurement data in one place

Consolidate all purchase transactions, communication, and collaboration in one place by eliminating data silos, disparate and disconnected system that lack clarity, prolong procurement cycles and cause opportunity losses.

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Tackle underperforming suppliers

Get proactive with Suppliers by identifying low performance and taking action. Analyze enriched supplier data to retrieve deeper insights, identify purchase risks, spot opportunities, and negotiate better deals.

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Avoid invoice delays and duplicate payments

Eliminate the possibility of duplicate payments by ensuring line-item quantities, product descriptions and per-unit pricing on the invoice match those of the purchase order and the actual goods received.

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Keep tabs on all Transactions

You get to audit every transaction, keep track of every purchasing activity touchpoint that provides detailed trail of exactly who did what and when.

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Strategize with insight, not instinct

Make better purchase decisions by gathering key metrics like PO cycle time, supplier lead time, spend under management, item defect rate, and more.

Businesses can identify supplier performance, analyze spend patterns, and gain actionable insights to improve the efficiency of procurement processes.

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Improved Communication & Information flow

The Procurement Solution enables efficient communication with Vendors, Workforce and other Stakeholders in the procurement process, thereby eliminating delays and transaction errors that potentially arise from communication gaps.

The Solution provides a single source of all information regarding each transaction without referencing multiple isolated documents.

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Improved Productivity, Eliminating Bottlenecks

Deploying E-procurement Solution helps eliminate process bottlenecks that slows down business operations, availing the team more time to deliver more results and focus on the much needed Growth.