Although procuring is a relatively simple concept to grasp, it’s not easy to keep track of. As a result, visibility is clouded, which leads to an extensive loss of control. This can be aggravated by misunderstandings between purchasing organisations and some of the suppliers involved.
Organisations are now adopting cloud-based procurement systems to cut down on the time-consuming procurement processes that have made it difficult to become more flexible. If this is something that interests you, this article is for you.
This post will cover why cloud-based procurement may be more advantageous than you think it is.
What Is Cloud-Based Procurement?
You may have heard about cloud computing, but what about cloud-based procurement?
The cloud is a type of delivery model that provides a comprehensive, highly efficient, and dynamic way of delivering services and applications. In recent years, cloud-based procurement has become one of the most popular procurement software tools organisations use.
Advantages of Cloud-Based Procurement
Here are some of the main benefits of cloud-based procurement:
Digitisation of Procurement
The digitisation of procurement software allows for a structured way to manage and track a company’s entire procurement process.
It allows the company to fully track its supply chain regarding procurement and purchase orders. Because of this, there would be less human error and waste of resources.
Accessibility
Cloud-based procurement software allows you to access the system anytime and anywhere through internet-enabled mobile devices. This means that you’ll no longer worry about being tied down because you’re away from the office.
Ease of Collaboration
Cloud-based procurement allows you to collaborate with vendors, suppliers and stakeholders directly. This means that they’ll be more aware of their requirements and will be able to direct requests through the right channel.
It’s also an easier way to show your appreciation to a vendor or supplier who has been an important part of your team.
Convenience of E-Invoicing
It’s easier for vendors and suppliers to send e-invoices through cloud-based procurement software. Aside from that, it’s also easier for organisations to pay for these invoices.
Cost-Effectiveness
You no longer have to worry about spending a fortune just to keep your procurement system up-to-date. Cloud-based procurement is more cost-effective when compared to other traditional procurement systems.
It comes with a predefined roadmap that allows you to customise your procurement process. It also comes with pre-built forms, enabling you to add them to your project management system.
Improved Visibility
When you adopt cloud-based procurement, you’ll be able to see the whole picture of your supply chain, from vendors and suppliers to your customers and beyond.
These are some of the most important benefits of cloud-based procurement. Businesses with cloud-based procurement have also reported a smoother process of tracking and managing their purchasing activities.
As you can see, there are several advantages to using cloud-based procurement for your business all of which could help make the process of procurement hassle-free. If you want to get a better understanding of cloud-based procurement and how it can improve the supply chain of your business, speak to reputable IT consultants in Perth who can further explain to you why you should consider adopting the cloud-based procurement software.
As your trusted IT consultants in Perth, IQPC are happy to share more details regarding cloud-based procurement and the services we offer. Contact us today to learn more!
