Streamline Procurement Process

The first step towards streamlining the procurement process is the need to assess the existing procurement lifecycle. It must also be evaluated and the right decision needs to be taken in order to begin optimizing it. In order to begin the actual streamlining of the procurement function, the following basic process can be used:

We have adapted to the following practices in order to improve our overall Sales Collaboration:

  • Process Mapping:

    The first step is to map the current processes. If done visually in the form of flow charts it helps to get a better understanding. The charts have several boxes showing the flow of relevant activities in which decision points are highlighted. The process mapping starts with request for proposals and ends with the consumption of the purchased items.

  • Identify Improvement Areas:

    Once the process is on paper, it becomes simpler to identify redundant stages and the possibilities where automation is required. This exercise helps the process run faster with better quality and lesser bottlenecks. This improvement will help to respond to the customer needs rapidly and help to manage suppliers in a better way.

  • Decide on Automation:

    After deciding where improvements and automation needs to be included in the process, the decision to buy or create procurement software can be made. A complete procurement system ensures that the processes are run as required.

  • Evaluate Strategy:

    Different companies have various types of way of working and operations. The evaluation strategy helps to decide if the procurement system will be stand alone, centralized, or spread among different functional areas.

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E-Bid Platforms

We have an e-Bid procurement platform which is easy-to-use and customizable software. It is the best way of having centralized access to all procurement related data in order to help the procurement team and the management team promote well informed decisions and drive implementation of reliable procurement best practices across the organization. With the e-bid platform we have been able to drastically shorten the time to buy goods and services ensuring healthy supplier competition to meet both price as well as quality objectives. It has also helped us to keep track on compliance and spending in accordance with the procurement policy..

It is a flexible tool for managing Requests for Information (RFIs), Requests for Proposal (RFPs) and Auctions. It is a useful tool for our procurement professionals. We believe that we need to move beyond just email and spreadsheets to efficiently be able to engage suppliers for sourcing events, analyze supplier responses, and make smart award decisions. With our e-sourcing solution, we are in a better position to promote competitive bidding amongst numerous vendors to lower the overall costs. We have been able to save several weeks together in the requisition to the award cycle to complete the procurement of goods and services.

This platform offers a complete bid management solution that allows promoting competitive bidding amongst vendors to lower down prices. It helps to quick and accurate bid tabulation. It provides an extremely efficient bid document distribution system in which bidders list and document management features streamline the distribution of large bid document collections associated with services and procurement. Since all the stakeholders involved in the e-bidding process are important, the procurement decisions are collaborated online for evaluating and scoring responses.