Can Your Organization Benefit from Partial eProcurement?
An increasing number of companies are looking to reduce unnecessary spending and get a hold of these expenses. To make these changes, organizations look to implement an eProcurement solution, the benefits of which can be redeemed to bring efficiency and control in your organization.
Many companies still consider eProcurement as an expenditure and every company looks to reduce expenses. Procurement is crucial in the efficient functioning of an organization and hence, they look to adopt the digital procurement ways to improve their functionality.
However, companies consider eProcurement to be an expensive affair and hold back on their spending to reduce expenditure. Digital procurement systems require substantial upfront investments of time and money.
Having said this, they are aware of the benefits of eProcurement and are willing to increase efficiencies by investing in an eProcurement solution but, not too much.
Because of the cost being high or the requirements being different, organizations tend to find a mid-way instead of adopting an entire (Purchase-to-Pay) P2P software i.e. partial eProcurement. Opting for partial eProcurement has its share of advantages and disadvantages.
How can partial eProcurement help your organization?
eProcurement benefits are the same for every organization, irrespective of its size. However, few opt for partial eProcurement depending on their requirements. For companies who choose partial adoption, following are the advantages and disadvantages.
- Lesser investment
- Takes care of an organization’s immediate needs
- Less disruption in operations
- Might not align with your organization’s long-term strategy
- Affects overall efficiency
- Not everyone is involved – leaves visible gaps
What should you consider while adopting a partial eProcurement solution?
While there are multiple aspects an organization should look at, here are a few which should be considered when taking the partial eProcurement route.
- ERP Integration
A good eProcurement solution is the one that can integrate with multiple ERP systems. It is an important aspect, if not primary, when it comes to selecting a digital procurement software.
The reason this is a crucial factor is that, if a solution is unable to integrate with ERP systems, the users will have to manually enter the data. This could lead to higher time consumption.
Seamless integration with the ERP systems will automate the task of importing data and will generate greater value. Data will be automatically accessible in the software, leading to exceptional time savings.
- SaaS Software or On-Premise Software
Most companies will think of this when they are looking to implement the entire eProcurement solution. However, it is equally important that your organization considers whether to deploy a SaaS-based or On-Premise solution even while considering partial eProcurement.
Deploying either SaaS-based or On-Premise solution, each has its own benefits. The advantages of a SaaS-based solution include – lower operating cost, average technical competence required and more importantly, no hassle for maintenance.
The advantages of an On-Premise solution give you complete control over operations and the security is maximum here. Further, customization can be done internally as required.
Having said the above, many organizations now prefer a SaaS-based solution due to ease of operations and efficiency coupled with lower costs. However, when it comes to larger organizations, data security is of utmost importance. In such cases, they prefer to have an on-premise solution.
- Is the software up to date with industrial practices?
The procurement industry is not new to technological advancements and disruptions. It is essential that the eProcurement solution you opt for is updated with the latest technologies and is aware of industrial practices.
For example, the GDPR change was made mandatory in May 2018. Eyvo is GDPR compliant since then. We made sure we were updated with recent industrial practices. Further, we focus on updating ourselves and working with the latest technologies only.
It is extremely important that your company looks at aspects which matter not just in terms of operational savings, but also industry relevancy.
Eyvo can help!
Be it partial eProcurement or an entire eProcurement system, Eyvo can help you with it all. Our digital procurement solution is designed to be user-friendly and look after client needs. Eyvo’s solution comes with core purchasing modules and optional modules. We have a small business edition as well as an enterprise edition. You can tell us what your organization’s requirements are and we can make it happen. You pay only for what you need and you can choose additional modules or features as you go. There is no rigidity as to what you choose when.
Eyvo can make it happen – irrespective of the size of your organization. Tell us what your organization requires and we will work with you to implement it successfully.