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Why E-Procurement Makes For A Great Investment Asset

e-Procurement software delivers many benefits to organizations looking to automate their manual procurement processes, better control organizational-wide spend or improve supplier management.

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Why E-Procurement Makes For A Great Investment Asset

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  1. Why E-Procurement Makes For A Great Investment Asset https://business.moglix.com

  2. e-Procurement software delivers many benefits to organizations looking to automate their manual procurement processes, better control organizational-wide spend or improve supplier management.

  3. Eliminates Slow And Laborious Manual Processes • Widely considered ‘the bane’ of the finance team’s life, the manual processing of supplier invoices is an extremely time-consuming and error prone process. Missing PO or VAT numbers, incorrect financial values and non-matching line items are frequent occurrences, and manually entering data and rectifying any issues can significantly slow down the processing and payment of these invoices.

  4. Sourcing New Suppliers • Offering both online tendering and auction capabilities, e-Sourcing helps drive best value and optimizes strategic sourcing outcomes. This electronic process helps remove paper, process time and manual overheads from supplier negotiations. Risk is reduced as only suppliers who meet criteria specified at the start of the process are able to tender for work.

  5. Spend Visibility • Getting a grip on what is being spent across the organization to enable more accurate budget and cash flow management is also a key benefit of eProcurement. Spend visibility isn’t easy, especially for those organizations with complex, indirect spend categories

  6. Sourcing strategy improvement Most of the procurement experts looked to eProcurement to gain a better insight into what the organization is spending to help improve their sourcing strategies. This clear view on what is being spent, by who and why is key to helping the procurement team better understand the organization’s current and future sourcing requirements. It can also help to identify future sourcing opportunities and savings in the future.

  7. Thank You Visit us on https://business.moglix.com © Mogli Labs Pvt. Ltd.

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