E-Procurement systems provide new controls to the old purchasing systems
E-Procurement has drastically changed the way companies manage their global purchasing. The procurement environment has been transformed into a complex and multidisciplinary marketplace with numerous different business players. e-Procurement successfully incorporates many aspects of the modern electronically-based-and-assisted buying process. Also, it includes various helpful services, such as database hosting, eCatalogue management, tender management, and financial transaction on behalf of a client through a customized and outsourced procurement service.
E-Procurement trends in the corporate sector
Externally managed and hosted e-Procurement services are undoubtedly an inevitable part of a growing global trend. Some of these systems specialize in specific industry sectors like oil-and-gas, pharmaceuticals and mining. On the other side, some e-Procurement service providers offer the full scope of supplier network services to support the international procurement transactions. One more interesting e-Procurement trend is where large companies choose to manage their e-Procurement needs in-house. Therefore, successful implementation process of e-Procurement solutions is considered to be one of the most reliable indicators of a company’s world-class purchasing structure.
E-Procurement trends in the public sector
Some governments in developed and mature economies have already successfully adopted comprehensive e-Procurement solutions. The main reasons for this e-Procurement “enthusiasm” are the improved structure, audit trails, and most importantly the full transparency of all transactions. On the other side, governments in the developing and emerging markets are still struggling to ensure stability. That’s the reason they’re often unaware of all benefits that e-Procurement can give in return. According to the findings of the World Bank research, there’s one more reason for governments of developing countries to hesitate when it comes to e-Procurement. These parties are often associated with corruption on a mass scale. It’s more than obvious that they’re avoiding implementation and adoption of e-Procurement systems, because of their full and uncompromising transparency. Also, there are some basic requirements, which need to be fulfilled for an e-Procurement system to reach its maximum potential in the public sector. Again, based on the recommendations by the World Bank, these requirements include improvement and expansion of ICT services, guarantees for a secure online working environment, the introduction of standards, and finally all people involved need to be properly trained.
E-Procurement trends in non-profit sector (NGOs)
There’s a huge potential for the introduction of electronic procurement services in the field reserved for the aid and emergency sector of support, which can benefit immensely from using these systems. e-Procurement gives an invaluable opportunity to aid-funded buyers of comparing prices quickly, efficiently, and easily. Additionally, they can also review specifications and delivery data from suppliers worldwide.
E-Procurement trends in the Supplier Information Management Sector
Traditionally, e-Procurement systems were limited in maximizing ROI for their customers due to the buyer organizations systems having incomplete in bad vendor records. Recently steps have been made by the leading Vendor Portal providers to provide additional Supplier Information Management tools to their e-Procurement partners. If you have an e-Procurement tool, ask your supplier about their strategy for supplier data cleansing and supplier enrollment.