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Procurement Technology

Procurement Technology

Technology is a key enabler that allows Procurement organizations to gain better insight into data, be more effective and efficient and gain more control of their company’s expenditures. Generally, Procurement systems can be broken into two major categories: eProcurement, or Purchase to Pay (“P2P”) systems and eSourcing systems.

QP Group has worked with numerous clients to help them understand their needs and then select and implement the software that best satisfy their functional and business requirements.

eProcurement/P2P:

P2P/eProcurement systems make the execution of a purchase of goods or services more efficient, while allowing the company greater control of third-party spend. There are many vendors in this space (ERP vendors and procurement specific) that provide these systems either as a SaaS (Software as a Service) or through the more traditional model of housing the software behind the company’s firewall.

Benefits of implementing an e-Procurement system include:

  • Adherence to contracted suppliers and agreed pricing
  • Spend avoidance through pre-authorization
  • Budgetary management
  • Reduced accounts payable costs

eSourcing:

eSourcing platforms have put much of the sourcing process online. Most eSourcing platforms will have the following components: Spend Analysis, eRFx/eAuction, and Contract Management. Others will have additional modules and also may also offer a P2P system to link to.

Benefits of implementing an e-Procurement system include:

  • Greater visibility to spend data
  • Faster sourcing cycles
  • Visibility to contracts and standardized contract development

Since the genesis of eSourcing in the late 1990’s, QP Group has developed expertise in this area by implementing and/or working with nearly a dozen eSourcing suites across our client base. We have worked with clients to develop full suites of systems and tools or expand their existing systems to add more. We have also helped clients imbed our Sourcing Management Process with its tools and templates into their eSourcing systems.

Please contact us to find out more information on how we can help.

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