Be it in cash, infrastructure, operations or resources, each and every aspect of a company revolves around one word: investment. Whatever the size of your organisation, smart investment planning is critical for smooth sailing. There has to be a balanced mix between the various cost heads and cost cutting strategies. While you can curtail operational costs by adopting some new-age eco-friendly techniques, how will you manage recurring costs incurred on the procurement of goods and services? Particularly when this comprises a significant percentage of your spend? The answer is simple: through eProcurement.
In recent years, eProcurement has emerged as an extremely proficient tool, helping people save money and fulfil their procurement requirements in a swift and transparent manner. In this blog, we will analyse various features of eProcurement that make it a perfect cost-reduction mechanism, an offering that makes Eyvo a preferred eProcurement partner.
First and foremost, Eyvo allows you to control your inventories and strengthen your supply chain model as you bid adieu to traditional sourcing methodologies. All you need to do is float your requirement and choose a pre-attested vendor based on competitive quotes shared by them. This spares you from the tedious task of agency empanelment in addition to saving valuable time likely to be spent on meetings, reviews and allocation. It also spells optimum utilization of resources.
One of the biggest advantages of eProcurement is streamlined vendor management. This implies that you are neither dealing with 10,000 vendors under the sun, nor do you run the risk of inferior or poor services. You can pick and choose your preferred vendor selected through a pre-prescribed procedure where service quality is guaranteed. So, how do you save on cost in this case? Imagine the pain of re-allocating the budget, re-tendering, selecting a new vendor and time lag caused because of engagement with unprofessional service providers. And yes, do not miss out on e-Auctions (which can lead to a decent cut in your procurement budget).
What’s more, eProcurement transcends the geographical borders and serves your requirement at your doorstep through expert agencies. The vendors offering services through an eProcurement platform often have a syndicate of service providers across the world, which helps you seek services and goods as desired from any part of the world without disturbing the comfort of your office workstation. So, simply choose a committed partner and enjoy the bliss of anywhere, anytime procurement.
Eliminating ‘out of control’ spending is another inspiration to take the e-route to procurement. For instance, if you are using a modern procurement software solution, you will actually be holding your purchase through a 100% automated process, which is seamless from a request entry to the issuing of the check which means no risk of incorrect billing, late deliveries or short supplies.
Evidently, eProcurement can produce a plethora of cost-saving benefits. So, optimize your supply chain, cut down on extra spends and reap the benefits of operating in a proficient and truly global playing field.
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