Remove Cost Reduction Strategies Remove EC Sourcing Remove Eliminating Excel in Purchasing
article thumbnail

Finding the Right Business Process Management Solutions

EC Sourcing Group

It is a way to perform all the functions of procurement and purchasing, but in a digital, electronic format, using software to automate and streamline the process. What if you could streamline everything from purchase orders to invoicing by moving everything over to an online format. . Another benefit of E-procurement is reduced cost.

article thumbnail

What Is eSourcing in Supply Chain Management?

EC Sourcing Group

If you work in procurement or the purchasing department, you’re already aware of how it works. pre-purchase questionnaire. Using eSourcing software reduces costs , saves time and maximizes your efficiency, offers you detailed supplier information so you can make a more educated choice, and helps ensure compliance.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

If You Could Solve These Common Challenges in Procurement

EC Sourcing Group

Complicated onboarding or purchase processes that “motivates” rogue spend. Solutions that are sitting on the shelf because they are so difficult and inefficient to use – your staff prefers using Excel because they understand it…even if it takes a lot longer. Lack of visibility. You can reach me at (973) 718-7071 x875.

article thumbnail

Rogue Spend – Why Stakeholders Improvise

EC Sourcing Group

Cumbersome procurement processes that require the same amount of effort for simple buys as strategic ones. Procurement is slow to respond even if the purchase is urgent. Huge cost savings by eliminating POs for common recurring purchases – stakeholders now execute these purchases in less than 5 minutes.

article thumbnail

How Much Are Outdated Procurement and Contract Management Tools Costing Your Company?

EC Sourcing Group

All of our pricing analysis is done in Excel because the pricing capability in our current tool is limited. My team cuts and pastes all the responses into Excel to analyze each event. The cost in lost opportunities, leverage and time are enormous. If we could get supplier participation to 40%, we would be ecstatic!”.

article thumbnail

Sourcing Challenges – Will Technology Help You Solve Them?

EC Sourcing Group

As part of my weekly routine, I speak with many talented people in sourcing about their challenges. Eliminate unnecessary steps and everyone wins. If you are patient and implement tools and system changes that make it easier for stakeholders and suppliers to do business with your groupexcellent results are inevitable.

article thumbnail

Are Manual Processes Sabotaging Your Efforts to Reach Procurement Savings Goals?

EC Sourcing Group

This is like using Excel to build financial analysis models – everything you need is included to create and then modify your workflow. This is a much better option than customization which typically carries huge costs to develop – many times requiring a seven-figure investment. Sound too good to be true? You Won’t Drift to Success©.