Source To Pay e-Procurement is the Next Big Thing
Source To Pay e-Procurement is the Next Big Thing
Business is going global and the fastest and most efficient way to work with providers across the world is through <a title="E-Sourcing Tools: What Do You Need To Begin?" href="http://blog achat cialis 5.prorfx.com/e-sourcing-tools-need/”>e-procurement. It is no shock to see that e-procurement has slowly become a global phenomenon for businesses to utilize. Saving money, having companies bid to work with you and increasing your return on investment are all major pluses for utilizing any type of e-sourcing tool.
A big proponent of utilizing an eprocurement software is the new Source to Pay (S2P) that many purchasing departments are starting to utilize. In this particular model, the purchasing department can manage the activities like spend analysis, auctions, purchase requisitions, billing, event sourcing, vendor relations and more all within the same software. Surveyed from over 200 eprocurement professionals, these were the results of their experiences with S2P platforms.
- Performance is a key attribute to any esourcing tool and the S2P platform takes it to the next level with improved team performance and better quality spend analysis
- You can easily see performance gains through homogenous environments compared to the other methods
- Travel and Expenses, Services and Raw Materials procurement were amongst the top of the categories cited the most
- 72% of the 200+ noted that phased deployment, module by module is the best suited for this type of Source to Pay platform
- The length of the deployment/ implementation is the biggest hurdle currently for a Source to Pay platform to become successful
This is a new groundbreaking e-sourcing tool that can take your business to the next level. At the end of the day though, as long as you are utilizing any type of e-sourcing tool to compete with global businesses then you are on your way to a successful return on investment. Of course, feel free to check out the ProRFX e-sourcing tool for even more information on how we can help take your business to the next level of eprocurement.
