eProcurement software provides you with the tools needed to streamline your sourcing and/or purchasing processes and can encompass both eSourcing (tenders and auctions) and purchase to pay.
Wax Digital is one of only vendors that can offer both solutions combined as a completely integrated Source to Pay suite.
The use of eProcurement software is commonplace in large international organisations, and increasingly by many mid-sized companies across the world.
Purchase to Pay in particular can be used by every department across an organisation, managing orders, catalogues and electronic invoices, delivering spend control and compliance with significant financial and efficiency returns.
eSourcing tools that encompass tenders, eAuctions and Contract Management can automate sourcing processes allowing buyers the time to identify new savings opportunities and manage supply-chain risk and supplier relationships more effectively.
Improve efficiency, deliver more
Implementing eProcurement technology solutions enables you, your team and organisation-wide users to gain time, cost and process efficiencies by taking away mundane, repetitive tasks.
Procurement teams can focus on more strategic activity, and gain collaboration opportunities that eProcurement technology offers. The ability to easily capture specialist departmental knowledge (IT, Marketing, Engineering for example) in one central place can be invaluable in the selection of the right suppliers, goods or services.
“Wax Digital's eProcurement system has freed up employee's time, allowing our staff to concentrate their attention where we want it - on continued customer service excellence.”Head of Procurement, Center Parcs
"In Wax Digital web3 we have found a system and a supplier that can improve the way we do business with our supply chain across Europe and drive significant process efficiencies, controls and savings."Purchase Systems Development Manager, Nissan
Building a Business Case
Implementing a solution that will impact the entire organisation requires a bullet-proof business case. It is critical that the case aligns with the organisation's corporate goals and objectives and that considers both costs and benefits of an eProcurement solution.
The 5 key considerations include:
- Clear and concise project goals and objectives
- Measurement of business objectives, cost & risk
- ROI analysis
- Quantifiable data to measure returns
- How will the organisation measure success
For more detailed guidance, download our white paper: Calculating eProcurement Returns
Tell me more
Find out what the benefits of eProcurement is to your organisation
Learn more about web3 and what it can do for your organisation
See how Source to Pay covers the full procurement life cycle