Does Automation have a future in Procurement?
A famous quote by Ty Howard says, “To fear change is to fear being challenged. To fear being challenged is to fear growth and new possibilities.”
This quote is a solid example of why the change from traditional to automation is inevitable. For an organization to grow and explore new possibilities, it should first be willing to accept change.
The buzz around automation, especially in procurement, has been high for a long time now. This could essentially be because of the traditional methods making every task time-consuming and unnecessary. Procurement methods have been misunderstood because of various reasons and a few prominent reasons have been that of tedious workflow processes and longer approval routines.
The traditional purchasing process is known to be tedious, repetitive and time-consuming and the goal of automation in procurement is in essence, to speed up these procurement processes.
What is Automation?
Automation primarily means to reduce human intervention to a minimum and automation fulfils a task repeatedly without any intervention whatsoever by a human. IT Automation is using a set of instructions to generate a repeated process that substitutes the manual work done by an IT professional in data centers and cloud deployments.
Technology will enable your organization to automate your procurement processes and hence, being up to date with the latest technology is of dire importance.
Automation in Procurement
The backbone of a procurement cycle is essentially procuring the right thing at the right time from the right vendor and at the best price. This statement by itself sounds like a long and dull process but with automation, this will be as easy as pie. More than anything, automation will lead to efficiency in procurement processes and streamlining of processes as well.
Not only this but, technology can also help procurement professionals save ample time and focus on more important aspects in the purchasing cycle.
Automation in procurement is new to many organizations and in most cases, is imminent. Companies which delay the acceptance of automation are likely to face growing problems in their traditional ways of procuring materials.
The reason why traditional ways of procurement have taken so long to automate is because there are multiple users, participants and systems involved in a single operation. Automation would mean a great deal as it would simplify the dreary aspects in the purchasing process.
eProcurement – A new and simple way to procure!
Digital procurement or eProcurement is a quicker and easier way to procure materials for your organization. You may ask how? Here’s the answer –
The ‘purchase request to order’ time is optimized as requests can be placed as and when there is a requirement in just one click. The request is received for approval within minutes and the primary purchasing process is complete.
Procurement professionals can now shift their focus from monotonous procurement activities to strategic procurement i.e. activities those are aligned with the business strategy. This will affect the bottom-line profits positively.
Approvals happen faster with the adoption of digital procurement process. For example, when a requisition is made and sent for approval, it can be approved or rejected even on the go. This way the requests for materials will not be stuck and the orders can be placed on time, avoiding further delays.
With the implementation of an eProcurement solution, spend tracking is a blessing in disguise. This can help your organization to keep track of every spend that is happening and will reduce the amount of maverick spend.
While the above-mentioned reasons are not necessarily the only reasons which contribute to a successful automated procurement cycle, they are essential in the cycle. Automation in procurement can only benefit your organization than be a disadvantage.
How can Eyvo help?
At Eyvo, we focus on optimizing efficiencies and streamlining the purchasing process. With us, you can be sure that you can effortlessly make the change from traditional to digital as we have over two decades of experience providing the best eProcurement services to our clients.
With Eyvo’s eBuyerAssist, you not only drive down costs but also save a lot of time which you would instead waste on traditional procurement. We can help your organization to take the focus away from traditional methods and focus instead on building long-term supplier relationships and negotiating.
You can also make the most of our solution by comparing vendors and select the best option accordingly. Our Vendor Contract Management will help you to lock in on competitive prices and ensure that all your suppliers adhere to contracts. You can find the most suitable supplier in the RFx module by requesting and analyzing quotations from them.
Making the shift from traditional to digital has been neglected because of complex implementation processes. Eyvo can help!