E-procurement to save money: 5 ways the PRO-Q platform helps you keep your costs down

September 22, 2021

Choosing to rely on an e-procurement platform to manage their purchasing processes allows companies and Public Administrations to manage their procurement procedures for goods and services in a rational and optimized manner, taking advantage of the potential of a tool built specifically to make the activities of those who use it more efficient.

However, the benefits provided by using an e-procurement platform-such as Venicecom’s PRO-Q-are manifold and do not stop only in the organizational sphere, but also have definite economic spin-offs.

Using an e-procurement platform, in fact, allows you to keep your operating costs down and obtain better goods and services at a competitive price. Here’s why:

  1. E-procurement saves you time: the first economic benefit provided by using a digital tool for procurement management concerns the ability to carry out in an automated way a long series of procedures that would otherwise have to be completed manually by an operator. Thanks to the possibility of integrating the e-procurement platform with the management software normally used by the Purchasing Department, for example, it is possible to automatically transfer master records and other data that would otherwise have to be copied by hand (a circumstance that, in addition to causing an unnecessary waste of time, increases the risk of making mistakes). The benefit is not limited to simpler management of master records and the Supplier Register, but extends to all stages of the purchasing process, from checking the requirements of potential suppliers, to contracting, to managing communications with the counterparty: thanks to e-procurement, all these steps are automated and made safer and faster, allowing your Purchasing Department to work better, without making mistakes and without spending time on performing low-value-added semi-automated tasks. If you choose to use a customizable digital tool such as Venicecom’s PRO-Q, then the integration of the platform with other software used by the office allows for maximum savings, since the automated procedures are built on the basis of the specific needs of your company or institution.

  2. E-procurement fosters competition-fair competition-between suppliers: every purchasing process requires that a meeting between a demand and a supply takes place, and the process is best concluded when the buyer is able to get what he needs at a favorable price and the supplier is enabled to sell his goods or services at fair and reasonable rates. An e-procurement platform such as PRO-Q, which allows companies and public bodies to hold auctions for the award of supply contracts, enables this to be achieved and ensures maximum transparency for all parties involved in the procurement process at all times. The ability to effectively manage one’s Supplier Register (link to Managing the Supplier Register through an e-procurement platform: all the benefits for buyers and suppliers) and PRO-Q’s vendor rating system, moreover, allow companies to have at all times an accurate snapshot of the characteristics of potential suppliers and to make their choices taking into account both the purely economic aspect and the level of general satisfaction with the services offered in previous orders, in compliance with best practices.
  3. E-procurement helps you to effectively manage your inventory: when sourcing a good, the most obvious cost to be incurred is the cost to be paid to the supplier who markets the purchased product. This figure, which is the easiest to quantify, does not, however, give a realistic idea as to the actual expenses to be incurred, since a number of additional costs have to be added to the purchase cost, including the cost of maintaining and managing the warehouse in which the goods will be stored before their actual use. Being able to count on an always-stocked warehouse is essential, since the lack of a particular good can lead-in the worst cases-even to a complete halt in production activity, but at the same time it is necessary for supplies to arrive in an organized and structured manner, to avoid the risk of obsolescence of stored goods, to avoid congesting the warehouse, to make the work of warehouse workers more efficient, and so on. An e-procurement platform, by helping you manage supplies and payments in an efficient, secure and automated way, helps you save money on these expenses, allowing you to be sure that you always have “in house” everything you need, avoiding the indiscriminate accumulation of stock products, helping you reschedule and repeat orders, and allowing you to better manage any super-work phases as well.

  4. E-procurement allows you to avoid disputes and litigation: a digital procurement management platform helps you complete your purchasing procedures correctly and allows you to keep track of all completed processes. In this way, you not only limit the risk of going to litigation, but you also have the guarantee that you can count on an archive thanks to which you can prove, in case of litigation, the correctness of the procedures you performed.
  5. E-procurement saves you money on consulting: using an e-procurement platform such as PRO-Q does not only mean taking advantage of the potential of procurement management software, but it also gives you access to a whole world of consulting that can actually improve your company’s operations. In fact, our experts are always available to give assistance when needed, to help with employee training, and to advise on all technical or legal aspects to ensure full compliance with regulations at all times. Being able to count on a partner who is reliable, knowledgeable and already informed about your company’s needs and peculiarities allows you to save money on consulting work and to face with peace of mind any stages of technological or regulatory evolution.

If you want to start saving money on your purchases right away, rely on the expertise of an e-procurement professional!
Contact us now and explain your needs-we will be happy to show you what PRO-Q can do for you.

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