3 Areas E-Procurement Software Can Create Purchasing Best Practices

Included in our discovery process, all of us engage the purchasing places early on in the project to comprehend the specific issues relative to their very own business. 

Spend Management Software like BAZ helps reduce the time and effort on routine spend management activities. A variety of source to pay processes like spend analysis, strategic sourcing and contract management can be automated. This feature of BAZ will buy more time for the procurement team to develop new strategies and achieve the organization's goals rather than spending hours doing mundane work. 

We continually discover that many customers are looking for 3 primary Cost-Saving Objectives when implementing our options:

• Contract Compliance
• Process Efficiencies
• Spend Analysis

We are frequently asked to provide best practices included in our implementation process. Each one of these will address here at a high level:

Contract Compliance - Deficiency of reporting tools and sources plague many of our new customers because they look for ways to squeeze spending budget dollars. Many of our customers tend to be increasingly challenged to track their own spend to ensure they are using established contracts. 

We suggest that the supplier catalogs chose by the customer be dedicated to their top vendors for every category. Many customers can determine this by examining their current PO Volume level. We also recommend that every category have a primary provider only and that they resist diluting their spend by adding several vendors to each category.

Process Efficiencies - Moving through Paper to our application naturally creates a more efficient set of company processes and control factors. We typically see a decrease in Requisition to Purchase cycle occasions from weeks to times... and even faster in some cases... Additionally, the ability for each requisitioner in order to track their request car process eliminates wasted e-mails and phone calls.

Spend Analysis - Once the entity went live and built a few purchasing volumes through our own application, they can track invest very quickly utilizing our "Purchase Reports". Instituting an exercise of ongoing reviews associated with vendor throughput will allow the actual purchasing organization to take advantage of the data for future prices negotiations with those suppliers.

An Invoice Management System like BAZ saves copies of printed invoices in digital format. This feature gives invoice processing a new edge. Duplicated invoices in databases are known when digital copies are verified. These digital copies are generated by an invoice generator like BAZ. BAZ's Image processing feature also helps to avoid database errors even if the stakes are high. 

In summary, e-procurement allows a business to step out of the routine paper process and become more effective in saving money through an effective process and contract conformity.