When it comes to procurement, everyone that is in the industry will tell you that it is a hard thing to handle as well as master. However, as the times have changed, the way procurement managers work with the procurement of services have also evolved alongside technology. E-procurement has been around for years now and if you ask anyone directly linked in the business, they will tell you that it’s a very daunting system that takes some time to get used to. E-procurement is not for the faint hearted and e-procurement systems can help your business immensely if you figure out the right way to get it done!
In this article, the ThunderQuote team is on a mission to help you figure out the reasons why we feel that every company should take e-procurement seriously! We want you to know why e-procurement makes sense and that every company should definitely invest in an e-procurement system. We have listed 7 of the reasons why we feel that e-procurement makes sense and alongside that we have explained its benefits as well. Here at ThunderQuote, we strive to be the best entity to come to for your number one e-procurement solutions! If you are looking for a solution to simplify your company’s procurement process, head on over to Thunderquote’s newly launched TQPro, an E-procurement software system which is now open for pre sign ups for a 6 months FREE trial! Check out its benefits and how it works there!
So why does e-procurement make sense in today’s day and age? Well, let’s find out together!
The first reason why an e-procurement system makes sense today is quite obvious and that is the fact that it reduces your cost quite significantly. E-procurement systems are designed to make things easier for you as the procuring officer or procurement manager. An online procurement system is so much faster as well when it comes to getting things done! With an e-procurement system, you can work at any capacity allowing for more work to be done. You will be able to have a proper, structured system that has all your suppliers’ details and this will save you so much time and in the world of business, we all know that time is money.
With an online procurement system, you also reduce the waiting time that is spent looking for suppliers and getting in touch with them as well as having to manually go look for their details! This again saves you precious time that can be used to do something else that is much more productive. With e-procurement, you are reducing the amount of paperwork you will be doing which will also save more money for you! It will eliminate the amount of errors that will be made because everything is automated!
A great, working e-procurement system is something that is extremely powerful and helpful. We cannot stress enough the importance of having this as a procurement solution. Taking some information from the previous point, it is quite obvious that with an online procurement system, you will have a much better productivity rate because of the amount of time you will be saving. An e-procurement system is so much simpler when compared to the original way of procuring services. It makes things so much easier and all your procuring needs is just there at the push of a button.
For example, once you have an internal e-procurement system, you can easily look for suppliers and get them to communicate with you directly. There is no more waiting for their secretaries to call you back and have them send you their catalogs via mail or have someone deliver it to you. The middle man process is reduced, if not eliminated and this just means an increased productivity rate for everyone in the office!
Trust is a big thing in a company and it’s always good to ensure that everyone’s spending can be seen so that the company knows and realises where the hard-earned money is going. Sometimes, in a traditional procurement system, it might be hard to see where the money goes, where the leads come from and it might also be hard to trace back exactly where that chain of events started from.
With an online procurement system, it offers a great procurement solution because now with everything online and open for the people in the company to see, it’ll be easier to trace transactions. The entire process is smoothed out and with a click of a button, you will be able to see past transactions, pending transactions and even future transactions.
A centralised tracking system allows for reports to be created easily and with a great e-procurement system, all the information can be fed back to the managers and the big bosses extremely easily. There is no room for error here!
Save the trees! With an online procurement system, can you imagine the sheer amount of paperwork you get to eliminate? No more printing hundreds of pages and having to tirelessly flip through them to get what you need. You won’t need to buy more shelving cabinets or have to hire out a warehouse for all the paperwork you need. If you have a successful company with more than 100 employees and you have hundreds of clients, it seems redundant to constantly have to use a printer and print things out to keep track of all your procuring deals.
Find your older tenders much easier, go through all documents with the click of a button and a quick search. This makes the whole process so much smoother and everything that goes online, stays online. So no more fumbling around looking for that 2010 tender anymore!
Are you ready to take control of your procuring system and be completely in sync with it rather than wanting to pull your hairs out? Having an e-procurement system just means that you have a centralised control system for all your procuring deals and tenders. This will allow a standardised process from start to finish and any hiccups can be fixed immediately rather than having to wait weeks to figure out the problem in the first place.
Having more control over approvals and just how many deals you want to start is a huge advantage and it just shows you just why an online procurement system makes so much sense. E-procurement just makes the most sense in the world and we’re wondering why hasn’t everyone jumped on the bandwagon just yet.
If we’ve convinced you about why you should invest in an e-procurement system, then head on down to ThunderQuote’s newly launched E-procurement software, TQPro to start your 6 months free trial today!
ThunderQuote is the most comprehensive business services portal in Singapore, Australia and ASEAN , where hundreds of thousands of dollars of procurement contracts are sourced every month by major companies like Singapore Press Holdings, National Trade Union Congress and more.