UK
08/11/2007 16:18
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Eprocurement can offer businesses and organisations a great deal more than just cost savings, helping to boost supplier relationships and streamline internal processes, a new report claims.
A study by Aberdeen reveals that automation of procurement enhances spend under management, leading to an average improvement of 35 per cent and a reduction in rogue spending of 41 per cent.
Nearly two-thirds of procurement executives polled stated that eprocurement had reduced their requisition-to-order processing costs, with an average reduction of 48 per cent.
Amit Gupta, Aberdeen research analyst, commented: "There is more to an eprocurement solution than cost savings - it is now a tool that removes manual error-prone repetitive tasks and promotes compliance with business controls allowing procurement resources to focus on more strategic tasks."
Executives from over 620 enterprises were consulted for the survey, E-Procurement: Trials and Triumphs, with procurement departments becoming an information hub as well as a transaction centre. Companies reported making extensive improvements to purchasing systems over a range of different key performance indicators.
A report on global eprocurement by SPG Media Research suggests that US businesses are saving as much as $700 billion (£332 billion) each year through the development of eprocurement strategies.
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