LAST_UPDATED2 Written by Administrator Wednesday, 14 October 2009 15:05
E procurement software
E procurement software is one of the fastest ways to get a rapid return on investment from a software purchase. Over the last decade, e procurement software has advanced in leaps and bounds. It is easier to implement, vendors are more accepting of the solution, and the measurement of ROI is well understood. If your organization is not using e procurement software, it is likely you're missing out on significant savings and time efficiencies in your organization.
Eprocurement software is not just for fortune 500 organizations. Medium sized organizations can rapidly implement e-procurement software to deliver significant benefits. The fortune 500 companies have done the heavy lifting in the e-procurement space. In many cases, they had delivered a significant return on investment. In other cases, they have learned the expensive lessons on the best methods of implementing e-procurement software. These lessons are now widely known in the industry and make your life implementing an e procurement solution a lot easier.
The emergence of software as a service (SAAS).
The concept of software as a service is not new. Over the past decade, it has evolved from hosted software to what we now understand as software as a service. This delivery method means that you can benefit from the value of e procurement without the massive millions invested of the fortune 500 companies. While there are limitations, such as the ability to customize the solution to your requirements, the benefits clearly outweigh the limitations.
It is not just the buying organizations that benefit from eprocurement software. The whole supply chain efficiency is improved with an effective implementation of an eprocurement solution. Suppliers can benefit through automation and integration into their financials and ERP systems, thereby saving processing effort and in some cases achieving real-time forecasting. Not all e procurement vendors understand the value in optimizing the full supply chain. It is important to discuss this with your eprocurement software provider
Eprocurement software vendors
You now have a great selection of eprocurement software vendors. After the dotcom boom and subsequent bust, you were left with very few options for E-procurement software solutions. The major player in the market was inaccessible and out of reach to many medium sized businesses. This created an opportunity for niche players and over the past five years many of these niche players had delivered quality products targeted to most verticals.
E procurement software comparison
A comparison of the e procurement software can be a challenging task. Most vendors believe that they have the core capabilities necessary for e procurement. We also believe this is true. However it is the nuances of the software that really determine its effectiveness in your organization. Therefore we recommend getting demonstrations and, if possible, trial copies of potential e procurement Software Solutions. Spend some time with your solution, understand the business processes, define your objectives and then compare the e procurement software solution. This time spent up front will be a very good investment.