Top 5 Benefits Of An E-procurement

If ever the thought of moving to an e-procurement process has given you goosebumps, you’re not the only one. Many purchasing managers worry that e-procurement is too complicated or confusing and opens their organization up to privacy concerns and errors. Not to forget the time it’ll take their team to learn a new process.

You might have heard pitches about the benefits of making all your processes electronic. But along with it, there are some very important benefits to e-procurement that you may not have considered.

When you factor in the decrease in procurement errors, costs, and paperwork, a switch to e-procurement might just have your employees and the environment thanking you.

We’ve narrowed down on the top 5 benefits of E-Procurement

1. Low Cost: E-procurement saves a great deal of money by preventing the process of duplicate spending and saves you from costs associated with paper-based systems (for example, the cost of stamps to mail your paperwork). 
2. Increase in Productivity: Electronic Procurement is less time-consuming in contrast to traditional procurement. Having your procurement records stored electronically makes it easier to submit reusable tenders. Meanwhile, use of templates means paperwork can be filled out more effectively and efficiently.
3. Reduction in Errors: The electronic paperwork is streamlined and thus it’s easier to check for errors. It doesn’t consist of messy printing to get in the way either. Along with this, the past orders are more easily cited, which means there’s a higher chance that the company can contrast orders to ensure new ones are correct.
4. Spending Transparently: Conducting procurement electronically makes it easier to write and analyze reports on your procurement systems which means that you can ensure that your procurement procedures conform to your policies.
5. Eliminates the Paperwork: Finding a new space to store all that paperwork is really tiring. With the help of e-procurement, everything can be saved and stored electronically which reduces the dependency on paper . This not only saves you from needing more room, but it also makes the process of finding older tenders more simple.

TendersOnTime is a Global Tenders provider that gives you the opportunity to choose from a wide variety of tenders online. Visit our tenders consultancy and management services and browse through the various e-procurement tenders available.