MAKING THE CASE FOR ePROCUREMENT SOFTWARE
There are few technology investments that can make the level of impact possible with eProcurement, transforming processes for hundreds or thousands of employees and delivering huge bottom line savings.
Cost savings, risk reduction, process and labour savings, improved management information and compliance – every part of a Source to Pay suite delivers returns in spades, and those returns are only amplified when enabling the entire procurement lifecycle in a single S2P suite.
eProcurement benefits at a glance
e Procurement software Feature
HighlightsThe return on investment from any eProcurement initiative should be substantial and readily quantifiable, but they do rely on realistic plans for implementation, deployment and change management.
Plan to Succeed
Unrealistic timelines, poor communication, a lack of executive sponsorship, other IT priorities – eProcurement projects are subject to the same potential pitfalls as any new system implementation, so effective planning and communication are essential.
Document your Objectives
Set clear and concise project goals and objectives. What are the most important outcomes – cost savings, risk reduction, labour savings and process efficiencies – and how are they going to be measured?
Define the Returns
Complete an ROI analysis using best and worst case scenarios and clearly state the anticipated results – Savings Tracker software can be very helpful here.
Keep on Measuring
The end of the deployment phase is not the end of the project – it is just the end of the beginning! Use the new management information capabilities at your fingertips to revisit objectives regularly and report on continued progress against them.
Share the News
Be vocal about successes and open about setbacks. You’re asking the business to invest money and stakeholders to invest time in realising your objectives, so make sure they are kept up to date and can have no doubt about the benefits that have been realised as a result.
White Paper
Building the Business Case for Upstream Procurement SoftwareDiscover how you can make the case for an investment in Source to Contract eProcurement software by looking at return on investment potential.
White Paper
Build vs BuyPresenting the case for adopting best-practice commercial off-the-shelf (COTS) procurement software versus building an in-house solution.
Next Steps…
