Why E-Procurement Makes For A Great Investment Asset
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...