Finding the Right Business Process Management Solutions
Business process management solutions refer to a broad set of tools that can help organizations and corporations effectively streamline their workflow and work more efficiently, given tools, and software.
For those in procurement management, this may refer to several different types of tools and software, especially those that help with price compression like eAuction software procurement or those that streamline processes and compress timelines like eSourcing software.
Read on to learn about how some of these BPM tools can help you and streamline your workflow when it comes to your entire procurement process.
What is E-Procurement in Supply Chain Management?
E-procurement is a shortened way to say electronic procurement. It is a way to perform all the functions of procurement and purchasing, but in a digital, electronic format, using software to automate and streamline the process. It is a business process management solution that involves all of the same steps you’re used to performing with your team and your suppliers—requisitions, orders, purchases, and evaluations.
It is the same B2B (business to business) model from start to finish. If you still depend on face to face contact, filing, and paper documentation, it surely slows down your process. What if you could streamline everything from purchase orders to invoicing by moving everything over to an online format.
The transition does not have to be a complicated one, such as trying to learn MS Excel from the ground up. Both eSourcing and E-procurement software don’t typically have an exceedingly sharp learning curve. With that in mind, however, there are different and dedicated types of E-procurement, which are considered various types of business process management solutions.
They can include web-based ERP, e-MRO, eSourcing, eTendering, e-Reverse Auctioning, eInforming, and several others. The right kind of software and business process management solutions should have all of these E-procurement solutions in your dashboard for procurement management. Ideally, you should have a program that can manage all the steps of procurement digitally, all in one place.
How Can E-Procurement Expedite Your Process?
There are many benefits of having the right tools and business process management solutions, particularly E-procurement. One of the apparent benefits is that it can streamline and expedite your procurement process. Many other benefits include a faster process, better visibility to information and process, which also results in happier internal stakeholders.
Another benefit of E-procurement is reduced cost. With everything on your procurement dashboard, it helps protect against duplicate spending. When you see everything you need or what you have ordered all in one spot, it helps protect against duplicity.
Transparent spending is also another benefit. With E-procurement software in place as part of your business process management solutions, you can easily run and analyze reports to see where your money is going and make sure everything is allocated to the right place. E-procurement software also reduces the amount of paperwork involved (by quite a bit) and increases productivity for not just you, but also for your team, and even for your supplier.
Your supplier will appreciate working with a well-oiled machine. A digitized E-procurement software system also leads to fewer errors. With all of the reports and documents in front of you and everyone on the same page, making errors is much less likely. E-procurement also leads to standardized buying.
To learn more about business process management solutions such as E-procurement software, or schedule a demo, contact EC Sourcing Group today by giving us a call at 973-936-9672.