Technology that Changed Procurement for the Better
How to Get the Most from Your Procurement Solution
E-procurement continues to evolve over time and to improve the procurement experience. More and more businesses are finding this value of procurement tech for themselves. So, today we are featuring some of the key benefits technology brings to procurement.
It should be no surprise that Vroozi’s #1 e-procurement benefit is mobility. As Vroozi CSO, Shaz Khan said, “Business should never be disrupted by accessibility issues.” Mobile procurement means your procurement process can keep running smoothly wherever you are. Approvals can be major bottlenecks for traditional procurement systems, but with e-procurement, approving is as simple as opening an e-mail on your smartphone.
Better, Faster Spend Visibility
Electronic procurement enabled real-time spend insights that were never possible before. As spending occurs, it is automatically tracked for key insights and strategy-building for procurement leaders. With real-time spend data, companies can predict their spend, know if their spending is on track, and manage how to spend most strategically. Ultimately, better spend visibility drives a better bottom line.
Whether referring to suppliers, strategic partners, or internal partners, e-procurement opens up an effective channel for better, faster communication. Where faxes, letters, and paper orders once ruled, e-procurement allows users to communicate directly with partners about any issues that pop up so they can be dealt with quickly and efficiently.
Information mismatches can be a major procurement roadblock. Everyone needs access to up-to-date information. With all procurement documents stored in one place, users all have access to the same information. All procurement parties can communicate better and see the same information as everything is integrated onto one system.
Not only is up-to-date information important, but also accurate information. E-procurement enables accurate information in a few ways. One of the best illustrations of the power of accurate information is 3-way checks. With e-procurement, the purchasing platform can automatically align the Purchase Order with the Goods Receipt with the Invoice. When there are any discrepancies, the user is alerted. This 3-way check means huge savings in not paying for goods they never received, inaccurate invoices, and duplicate invoices.
Vroozi constantly looks to e-procurement trends and developments to bring the best in e-procurement solutions to our existing and future clients. Are you ready to Vroozi?
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