Once you’ve identified your eProcurement goals, the next step is getting there.
Financial Controls: By establishing approval workflows, you are assured that the correct goods are purchased and that the approval process matches your own predetermined business rules. This provides the information required for Sarbanes-Oxley reporting.
Contract Compliance: Give users the tools to find the items that have been sourced in advance. Provide rich catalog content that contains all items under contract, and make them easily searchable for accurate purchases.
Reduce Off-Contract Spend: Let users order non-cataloged or one-time buys while staying within the eProcurement process. When a buy is off-contract, organizations lose the ability to track that spend, take advantage of pre-negotiated prices, and allow a purchasing professional to properly source an item or service.
Define Business Processes, Policies, and Procedures: Reviewing and adopting best business practices will optimize your purchasing processes and help your organization run smoothly and efficiently.
Shorten and Improve the Procurement Cycle: Procurement cycles should be reduced to hours; otherwise, efficiencies from the system are lost.
Focus Professional Buyers on Strategic Issues: When buyers no longer need to be involved in day-to-day ordering, they can focus on negotiating long term contracts to establish mutually beneficial relationships with key suppliers.
Improve Payment Processing: Consider Evaluated Receipt Settlement (ERS) processing to manage supplier payments based on receipt, eliminating the need for an invoice. Establish default payment terms with suppliers and automate the ability to make payments based on established payment terms.
