Future Of Procurement In Times Of Covid-19
Future Of Procurement In Times Of Covid-19
By | E-Procurement Software
What lies ahead for procurement post the changing times?
By Bhargavi Nake

It has been almost a year since the Coronavirus pandemic was first detected. Now, the COVID-19 pandemic has turned our lives upside down and left industries, dislocated. The pandemic has created unprecedented challenges across industries and recovering from it will be a rocky road. The looming question is – What is the future of procurement post-COVID-19?

However, it is upon us how we let this affect us in the long run. The world is moving on and finding ways around the pandemic situation. Economies are opening and the world is regaining its pace slowly but steadily. While the danger still looms upon us and the fate of the vaccine is uncertain, it is time we look at the future of procurement and move cautiously.

If we are to be pragmatic, digitally led steps towards procurement and working together towards boosting employee confidence is the way to go.

What next?

Supply chain and procurement have been one of the worst affected since the pandemic began. The supply chain industry has had to evolve rapidly in a noticeably short time. The pandemic has severely disrupted the procurement processes and supply chains globally.

Travel restrictions were announced overnight by countries and suppliers overseas could not fulfil orders, bringing businesses to a standstill.

Companies all over the world have had to scramble to fulfil urgent demands by their customers, carry out business operations smoothly and deal with suppliers and their teams – all at the same time.

While all of us are struggling to find our way and making it work, we need to start somewhere. Here are some key areas procurement can pay attention to while tackling the bigger problems:

Focus on building and retaining supplier relationships

Avoid reliance on limited suppliers / avoid having limited options

Focus on risk management now more than ever

Highlight the importance of innovation

Spend smartly and reserve for future growth strategies

Choose the best digital procurement software to succeed

All the points we discussed will be successful only when you have a digital procurement software that is powerful enough to handle these tasks efficiently. Choosing the right software which is fit for your organization’s needs is of utmost importance at this stage.

The current circumstances have forced many industries to work from home. Apart from this, organizations are stressing on handling processes digitally, now more than before. Most industries are striving to reduce manual interventions to be at a minimum. All these events and more are reason enough why companies need to shift to digital procurement methods.

An ideal eProcurement software should be able to make the procurement processes easier for your company. If the software can run smoothly while taking care of these rapidly evolving times, then this software will be your path to success.

How can Eyvo help?

Eyvo has been in the digital procurement business for over two decades and we have experience in industries like hospitality, legal, construction, and many more. We have successfully provided our eProcurement solutions to these industries and continue to do so.

To adapt to these changing times, we have just launched our new design which will make it easier for your organization to carry out procurement processes effectively and on-the-go.

Your company does not have to worry about the complicated approval processes or re-order quantities, etc. Eyvo takes care of it all. With our modern design and interactive dashboards, you can see all the important information in one place. This will enable you to take swift organizational decisions and avoid any delay in processes.

Our supplier management module will help you keep a track of all your suppliers and manage them all in one place. With our software, you can curb risks and manage suppliers as and when you need. Eyvo’s sleek and adaptive design can now help you get more work done with fewer clicks.

Your organization does not have to worry anymore about managing too many orders and losing track of it. Our software manages it all and lets you enjoy a hassle-free eProcurement experience.

The world has adapted to these changing times, and Eyvo is here to help!

Contact us.

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