eSourcing Software: How to Get the Most from Your Solutions

If you’re wondering, “what is eSourcing?” generally speaking, eSourcing is a collection of web-based, interactive software that both improves strategic sourcing by strengthening relationships with suppliers and also helps simplify and streamline the procurement process overall.

eSourcing is a dependable way to use software to find new suppliers, run analytics, evaluate risk, and it provides all the tools you need for contract management. eSourcing software is vital to sourcing success; however, you want to ensure you’re using the right eSourcing forum and eSource system for your needs.

Read on to learn more about using this software to the best of your ability.

Your eSourcing Software: Ensure It’s Intuitive

If you already are using an eSource system and you’re still struggling with getting the hang of it, it may be time for a change. Each industry has different needs, so software is not a one-size-fits-all for every company.

If your eSourcing software is difficult to use and your team is also having difficulty, it’s time to change. The first thing to do is to analyze your software. Is it meeting your needs? Do you have clean data from your analyses?

It may be a good idea to write down what you expect from your software, which will make it easier to find a better fit.

Your eSourcing Software: Fostering Communication

One of the benefits of eSourcing is that it strengthens your relationship with your suppliers—both new and old. The transparency of software also allows your team to see everything in real-time, and your suppliers can see it as well. The right software provides transparency and collaboration between everyone. Use your eSourcing software to foster communication between your team, suppliers, etc., and do away with “back-and-forth” negotiations. You can also evaluate the eSource parts, ensuring there wasn’t a step in the software you somehow missed.

Your eSourcing Software: Consistency and Follow-through

It’s important to stay in compliance with your software. If it’s not working for you, one issue may be consistency and follow-through. There is always a bit of a learning curve when starting a new program, but here are some eSource resources and important tips that can help you stay on track:

  • Use your software how it’s intended—to stay on track and meet deadlines
  • Update software when needed and provide ongoing training and education for your team by planning eSource events
  • eSourcing software can help you reach key milestones while staying in compliance

Have you or your eSourcing manager always kept track of updates and new software versions and ensured your team is thoroughly trained.

Your eSourcing Software: Embrace Change

Overall, people can find it difficult to embrace change, but there are so many benefits to eSourcing software, such as better relationships with suppliers and time- and cost-effectiveness. With analytics, one important thing to note is that your eSource data must be clean (and your supplier’s data) to provide you with the correct information.

While software is designed to streamline your sourcing experience, there can be a learning curve in the beginning. Some things to think about as you’re getting to know your software and are embracing change:

  • Stay on track with trends and current markets and adjust accordingly
  • Use software to tap into potential global markets
  • Be patient with learning a new process if you’re used to sourcing with spreadsheets or other outdated types of procurement software

Finding the right fit can be challenging at times, as not every type of eSourcing software is the same. Be patient because there are many benefits in store once you’re familiar with how to use it.Image of puzzle pieces fitting together for an article about eSourcing Software: How to Get the Most from Your Solution

For more information about eSourcing software or to request a demo, contact EC Sourcing, a Simfoni Company, through the webform here. We want you to reimagine the way you think about procurement.