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

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Electronic auctions
The real-time competitive behaviour driven by eAuctions means they are uniquely effective in securing best value from your supply chain, delivering on average 18% savings across all categories.
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Electronic tenders
Users report up to an 85% reduction in cycle times and labour costs for electronic tendering compared to a manual process of generating, distributing, collating and scoring tender documents.
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Contract management
Effective contract management puts a stop to ‘evergreen’ contracts that automatically roll over, tying you in to unfavourable terms and half-hearted SLAs with indifferent suppliers.
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Supplier management
Empowering suppliers to manage account details online delivers huge cost reductions, while automatically policing accreditations and certifications reduces supply chain risk.
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Spend control
Implementing a P2P solution typically sees total spend fall by as much as 3% as programmatic oversight and approvals take hold, whilst eliminating maverick spend delivers significant further savings.
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Electronic invoicing
Effective invoice automation let’s suppliers continue to invoice via a variety of means but automates the process of data capture and matching to reduce the cost per invoice by upwards of 80%
  • Feature Highlights

    eProcurement software Feature
    Highlights

    The 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.

    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 Software

    Discover how you can make the case for an investment in Source to Contract eProcurement software by looking at return on investment potential.

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    Build vs Buy White Paper

  • White Paper
    Build vs Buy

    Presenting the case for adopting best-practice commercial off-the-shelf (COTS) procurement software versus building an in-house solution.

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    Build vs Buy White Paper

Next Steps…

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More ways we can help

Spend Compliance

With a centralised system, you can gain visibility and manage your spend effectively to ensure compliance. This also gives you a full audit trail of all activities.

Spend Compliance

Cost Saving

Cut costs, generate savings and maximise profitability to realise immediate return on investment with our innovative procurement technology

Cost Saving

Supplier Management & Risk

Manage your suppliers effectively with a joined-up and accurate view of data. You can drive more value and innovation from your supply chain, whilst reducing risk.

Supplier Management & Risk

Why Choose Wax Digital?

We’re proud of our industry-leading, 98% customer retention rate, but there’s more. See our 8 compelling reasons to talk to us about your next procurement project.

Why Choose Wax Digital?