Reduce direct and indirect purchasing costs,
increase control over business transactions, and
procurement processes
SmartProcure is a web-based Procurement solution that allows organizations to automate the complete procure-to-pay cycle – from product selection, requisitioning, approval and ordering to delivery, receipt and financial settlement. The suite includes applications for requisitioning, check request, budget compliance, RFQ, purchase order generation, receiving, invoice matching and vendor contract enforcement with approval workflow throughout the entire process. With an eProcurement solution in place, organizations empower their users throughout the enterprise:
Requesters get the convenience and efficiency of easy self-service for requisitions and check requests
Managers are able to manage by exception and accelerate approvals with automated workflow
Buyers can focus on building strategic supplier relationships to reduce costs
Payables maintains control over expenditures
Benefits
 Eliminate error-prone paper-based processes
Reduce requisition-to-order costs and cycle time
Control maverick spending
Manage by exception - ensure that your purchases adhere to your policies
Ensure compliance with a complete audit trail of transactions
Enable your procurement professionals to focus on strategic tasks
Huge savings are what prompt companies to invest in eProcurement. These savings come not only from more rational decisions, but also from simplified purchasing processes and lower transactions costs. A company can expect to save between 5% and 15% of their total procurement spend and start seeing results in six to nine months. A company that spends $500 million a year could save between $40 million and $60 million annually.
|
Traditional/Manual |
eProcurement |
Price of materials and services |
- |
5% to 10% reduction |
Purchase and fulfillment cycles |
7.3 days |
2 days |
Administrative costs |
$107 per order requisition |
$30 per order requisition |
Inventory Costs |
- |
25% to 50% reduction |
- Source: Aberdeen Group |
