Hidden savings from procurement digitisation 

Onerous, manual procurement tasks could soon to be a thing of the past, and modernizing could be the key to unlocking savings across the enterprise.  

eProcurement provides suppliers of all sizes access to opportunities and the ability to receive standardised electronic orders, manage complex bidding opportunities, and migrate supplier self-service functions online.  It is proven to reduce the overall cost of sales.  

eProcurement also reduces much of the manual work associated with offline processes and paper-based orders, giving procurement professionals more time to spend on building valuable relationships with their suppliers. 

Could eProcurement help enterprises find the efficiencies they seek? 

Since the 1980’s business ecosystems were driven towards digitisation and automation, resulting in sweeping changes in business behaviours and operating models. The onset of The 4th Industrial Revolution and the emergence of the COVID-19 pandemic has accelerated digital change as never before. As a result, enterprises are increasingly turning to digital service providers to help them navigate through the complexities of the digital economy. 

How does it work? 

The digitisation of procurement processes brings efficiency and helps stave off losses due to poor sourcing and ineffective and bureaucratic procurement and payment processes.   By automating the supplier onboarding process, cycle times are reduced and the opportunity for maverick spend is all but eliminated.  The accuracy gained by automated mapping and matching of supplier documents within the procurement process also helps rule out opportunity for inconsistencies.   

Using pre-defined rules, enterprises can avoid unforeseen spend and have peace of mind that governance and compliance remain intact.   Moreover, a digital solution will provide far greater insights into transactions and process-related data for improved transparency, auditing, and reporting. 

With Linxus eProcurement, built on K2, we cover all facets of digitising and automating the procurement process. We believe that a holistic system that meets both internal and external compliance and requirements is critical for success.  To learn more about our digital procurement automation solution, visit our website or reach out directly to one of our consultants. 

Linxus eProcurement – built on K2 – gives you the power to transform the way you source what you need, when you need it.