Procurement is a term that involves the processes of vendor selection, agreeing payment terms, strategic vetting, contract negotiation and the actual purchasing of goods. Procurement takes care of acquiring all goods, services and work vital for your organization. As procurement includes core business functions, it should be considered an important part of any corporate strategy.
The benefits of automating procurement
Procurement automation brings consumer e-commerce shopping ease to your procurement management processes. Finance innovation through automation is essential to increasing its value and its strategic importance. Automation procurement enables you to achieve cost savings, while saving your employees valuable time when they are purchasing goods, or even looking for the right information to get their work done.
The possibilities and advantages are endless. A few examples..
Effective supplier management with less risk and greater cost savings
The more vendors you have, the more contracts that need to be managed. Working with preferred suppliers can become part of your procurement’s strategy including alignment with all corporate compliance guidelines.
Eliminate time consuming manual steps
Significantly reduce or eliminate manual steps in your procurement operations that causes bottlenecks in operations such as the order approval processes.
Less distraction for procurement professionals
Procurement professionals won’t be bothered anymore with small purchases. Employees that ask for specific purchases, can do it themselves, operating under the appropriate guidelines.