Business Moglix

Your traditional procurement arrangement has served you relatively well over the years but there’s always room for improvement. Before you can begin to put in place improvements to the procurement process, it’s necessary to have a clear overview of the current procurement process in use. To do this, assess and document every aspect of the procurement process, including time frames for different tasks, suppliers involved, compliance checks, payment methods, etc. Subsequently, think about your desired procurement arrangements and put it in black-and white so that you have a form of reference. Once you’ve completed these steps, you should have a clearer idea of what needs to be included in your new e-procurement strategy to maximize the effectiveness and efficiency of your business procurement process. Identify gaps and solutions to bridge the gaps Having clarified your current and desired procurement process, you can now start to identify the gaps in your current procurement strat

e-Procurement software delivers many benefits to organizations looking to automate their manual procurement processes, better control organizational-wide spend or improve supplier management. Eliminates slow and laborious manual processes Widely regarded as ‘the bane’ of the finance team’s life, the manual processing of supplier invoices is a time-consuming process and inherently prone to error making. The missing PO or VAT numbers, incorrect financial values and non-matching line items are repeat offenders; the act of manually entering data and rectifying such issues can perpetually slow down the entire processing and payment of these invoices. Sourcing new suppliers Offering both online tendering and auction capabilities, e-Sourcing helps drive best value and optimizes strategic sourcing outcomes. The simplified electronic process helps to remove paper, process time and manual overheads from supplier negotiations. Risk is less as only those suppliers who meet criteria spec