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If
your
company is not using e-Procurement, you are losing the best
opportunity available today to drive savings and increase profits.
On average, acquiring products and services accounts for more than
50 percent of every dollar of revenue that a business gains,
including the combined costs of administrative resources and the
cost of the products and services.
Sadly,
little emphasis has been put on procurement and purchasing
processes in the past. This has hurt company bottom lines at a
time when no one can afford negative impacts on profits and
revenues.
Fortunately,
technologies that leverage the power of the Web and Internet have
created an incredible opportunity for businesses to dramatically
reduce the costs of administration, products and services while
revising and enforcing internal procurement policies. Your
business can remain competitive and significantly increase profits
by moving from traditional procurement to an e-Procurement
strategy.
What is E-Procurement?
Typical procurement processes within an organization
include one or more purchasing/selling departments, all of which
rely on paper-based systems. Purchase orders (POs), requests for
quotes (RFQs), invoices and payments are transmitted via phone,
mail, fax and e-mail. Procurement departments are typically
disparate across organizations and geographies, and each has its
own hierarchies, processes, rules and relationships. As a result,
the system is highly vulnerable to human ...
...Continued
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