procurement automation

Future of Procurement

Future of Procurement
What does the future of procurement look like? Let us look at how digital transformation and technology advancements are likely to shape the future of Procurement. Procurement has started to get recognition as a strategic function that provides a competitive edge. With Procurement KPI and measurement metrics being implemented religiously, organizations have become conscious, that streamlined procurement processes can significantly improve their profitability.  Organizations have therefore shifted their focus from manual sourcing and demand management to a more digital, automated and technolog...
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What is e-Procurement? Components of e-Procurement

What is e-Procurement? Components of e-Procurement
What is e-Procurement? E-Procurement or electronic procurement is the process of purchasing goods or services online. e-Procurement software solutions help to automate the entire manual procurement process right from requisition of goods to issue of the purchase order. Organizations, mainly those in manufacturing or related sectors, typically spend 60% to 70% of their total expenditure on the procurement of material and services. These materials and services have a large impact on their final product quality, product cost, product delivery, and customer satisfaction. Hence, procurement has b...
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