Approval RoutingBusiness Process AutomationPurchase Management

Electronic Procurement: The First Step in Digitizing the Procure-to-Pay Process – Part 3

By March 16, 2017September 27th, 2022No Comments

eProcurementIn today’s world, ‘Innovation’ is the key to success…!

What does a developer and manufacturer of advanced lithium-ion batteries and energy storage systems for transportation and other commercial and industrial applications, and a manufacturer of catheters and scaffolding material to treat hernias and vaginal prolapses have in common…???
Both knew that it was essential, and no longer a luxury in 2017, to reduce costs and optimize spend management in the Procure-to-Pay (P2P) process. Their first step was to call upon ISS Group, a known leader in the QAD community since 1995 offering Business Process Improvement solutions, to implement our eProcurement solution, iPurchase.
Over the past 3 weeks we have published a series of blog posts, which address the necessity to digitize your purchasing process with a highly ‘user and process’ configurable eProcurement solution that offers advanced features like ‘out-of-the box’ QAD integration, cloud processing, multi-dimensional approval routing, mobile functionality, and much more.
In the Final chapter of this 3-part series, we will discuss ‘Enhanced Control and Compliance’, and ‘Simplification’.
Part 1 of Electronic Procurement we discussed a ‘Quick Return on Investment’, and ‘Noticeable reductions in costs’.
Part 2 of Electronic Procurement we discussed ‘Less Maverick Buying’ and ‘more Streamlined Processes’.
The following are the final two of six reasons, that we feel will make for a ‘convincing’ business case to push digitization of your procurement processes.
5. Enhanced control and compliance
Another advantage of electronic purchasing are the enhanced monitoring capabilities and the ingrained adherence to compliance rules. Compared to paper-based procurement processes, digitization and automation not only provide for faster but also more transparent processes. Therefore, you literally have it at your fingertips to track the procurement costs virtually in real time. In addition to that, advanced procurement solutions can adapt to the specific purchasing guidelines and rules of your company. Neither you nor your immediate supervisor, the finance dept, or controller need be worried about compliance.
6. As simple as Amazon
Last but not least, the factor “easy and comfortable” should not be forgotten when it comes to evaluating the idea to move towards an electronic procurement solution. eProcurement opens up the perspective to create a procurement environment in which everybody in the company, with the needed rights, of course, can purchase any product required from a list of contract partners. This happens in the same easy way we are already used to from the likes of Amazon and Ebay.
Conclusion: If you want to find a business case for investment into eProcurement – the business case is almost certainly there if you look. The six areas in our 3-part series are great places to start but there are more and for sure, different types of businesses in different industries will have their own key challenges and goals – and these should be reflected in your own unique business case too.
Mark your calendars for the QAD MWUG’s Spring 2017 Conference, scheduled for March 19-21 at the Henry Hotel in Dearborn, MI., and be sure to stop by our sponsored booth to learn more about what we can offer on eProcurement and AP Automation; key components in the Procure-to-Pay process…!

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Who is ISS Group?

ISS Group delivers Solutions which Digitize Business Processes to Connect People and Processes via the Cloud, Mobile devices, and Social Networks

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Morristown, NJ 07960

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