Tech

What e-Procurement Can Do For Your Business

October 25, 2017

What e-procurement can do for your business

Nobody likes paperwork. When it comes to the vital operations of business procurement, many workers are resigned to that need as an unavoidable reality. But it doesn’t have to be. The modern workplace is transforming the way we work and communicate, from video conferences delivering seamless client communication across the globe to the rapidly expanding opportunities of collaborative software. If you want your business to thrive, adapting to new technologies is a vital element to success. Your procurement function is no different.

What is e-procurement?

Procurement should be a vital strategic consideration of any business, presenting huge opportunities for savings in both capital and operational expenditure. E-procurement solutions enable you to take your traditional paper-based procurement processes and integrate them on a readily accessible, digital platform that can further enhance those benefits.

The digital opportunities of our modern, interconnected offices enable us to integrate both internal and external processes into platforms such as Procurehere that improve internal operations, while generating significant wider benefits to customer and supplier relationships. Procurehere provides a platform for e-sourcing, requisitioning and a range of RFx and tender events that not only deliver improved processes and business efficiency, but open up global opportunity through access to an international pool of procurement events and suppliers.

Widespread recognition of the benefits of these technologies has supported huge expansion in e-procurement uptake in recent years. Growth in e-procurement software is expected to continue at a CAGR of 9.1% to 2021, reaching a total market value of US$6.6 billion by 2020. Is your business ready to benefit?

e procurement malaysia

E-procurement can empower your business

When it comes to the adoption of new technology, companies can often be cautious. A 2014 study on business adoption of new technology showed that 46% of businesses believed cost was the greatest barrier to adoption, followed by 31% who worried about lack of know-how to deliver. By offering a simplified, cloud-based solution, Procurehere tackle those challenges head on.

Our user-friendly, cloud-based software offers a simplified e-procurement system that requires no formal training, and no significant capital expenditure. It does not require costly IT infrastructure or excessive subscription fees. What it does is remove the burden of your paper-based workload to provide an effective, efficient procurement solution for your business.

Our platform was developed and delivered through comprehensive feedback from clients over 15 years of development, with our cloud-based solution created by over 150 experienced developers following more than 18 months of onshore and offshore development. The result is a solution that delivers significant value to our users.

Since 2002 Procurehere has facilitated over RM4 billion in total spend for customers that include iconic Malaysian institutions such as Malaysia Airports, Indah Water, and Westports, with average savings of 17% per event. The benefits of our integrated, cloud-based software don’t end there.

Time savings

  • Decrease the time of overall procurement cycle
  • Comprehensively reduce sourcing time

Financial savings

  • Significantly improved efficienc through automated processes
  • No training or IT infrastructure costs

Accessible software

  • Secure cloud-based software, accessible anytime, anywhere
  • 24/7 online knowledgebase and customer support

Simplified workflows

  • Setup networked teams for easy collaboration
  • Reduce requisition approval from weeks to hours

Increased transparency

  • Easily evaluated audit trail
  • Eradicate maverick buying
  • Improve regulatory and operational compliance

 

Like any new technology, adoption of e-procurement solutions can often seem like a challenge for business. But in today’s modern working place, the opportunities and importance of technology in staying competitive has never been more vital.

 

Procurehere offers a simplified, e-procurement solution that is easily adopted, easily integrated, and delivers real value for your business. If you want to explore the opportunity of Procurehere, begin your journey to a more efficient business with our free trial today.