Is eProcurement worth the hype at all?
Benefits of an eProcurement Solution
eProcurement solves many short- and long-term business issues that revolve around making the purchasing process more efficient, cost effective, and integrated. At the least, such systems save money by streamlining the purchase process and at the other end they can result in savings on not just time but also lower the cost of the entire process as well as increased visibility on real-time costs and to drive continued savings. The long-term benefits are associated with lower costs of software maintenance, training, licensing fees, and scalability to changing business needs.
The Eyvo core solution offers workflow and process automation as well as basic financial packaging and vendor integration embracing the entire purchase-to-pay cycle which typically includes at least requisitioning, approvals and purchasing. In addition, functions like receiving, RFQ/RFI (request for quote, request for information), inventory, invoicing, vendor portal, and expense tracking can be added to the basic service for even more integration and automation. Our customers see the immediate benefit from reduced time and effort spent on the requisitioning to PO generation process.
Real-time reports and timely access to budgetary information may be the most valuable tool for decision makers. Since the Eyvo solution is cloud based, all information is available all the time. Standard or customized reports can be generated on the go, though savvy users save a desired report they need on a regular basis so that they don’t have to go through the customization process every time a report is needed. This advantage also applies to budget, inventory, and other reports and graphs that may be particular to each user. Having instant answers to questions that influence business decisions can be the difference between making or losing a deal, having higher profit on a project, and providing better and faster response to stakeholders.
Eyvo has several modules that can be added on to the core solution to fit most company’s requirements. Unlike others in our industry, our customers only buy what they need. The modular design of our solution is also a manifestation of the efficiency and cost savings we promote. More is not necessarily better but flexibility to configure a solution is an asset without paying for features that would never be used. We are also able to offer some of our modules as a standalone solution depending on the particular system setup at the customer end.
Like our solution, our implementation process is swift and affordable. Our onboarding process is well defined to help with seamless provisioning that results in customers being able to use their Eyvo solution often in a matter days.
The Eyvo solution provides long-term savings while increasing control. The total cost of a SaaS solution should not only be measured by the manual processes replaced and systems integrated but also the time spent administering those other methods, licensing fees, and potential data duplication efforts that are also prone to errors. Costs are also reduced by generally faster deployment as we are only spinning up one system not multiple separate systems. Training costs may also be reduced because of newer generation technology that allows users a faster pace on learning curve.
Lastly, ongoing user support for cloud-based solutions may be more accessible than their desktop counterparts. Most eProcurement solutions include, at no additional cost, extensive customer support, periodic updates, customer driven feature releases, and software maintenance related to 3rd party integrations and compatibility.