Electronic enablement of procurement is a smart solution, developed exclusively to reduce the costs of your sourcing operations.
Automation of the procurement process is a great boost for businesses. It enables rapid connection with their supply base. And has undoubted credibility in improving the overall supply chain mechanisms. E-enabled procurement emerges as the most reliable process.
Electronic enablement of procurement is designed with many variations and alliterations, depending on the magnitude and nature of the business. But at the core, it primarily aims to achieve a reduction in the cost of procurement and to bring a positive change in the organizational culture. Procurement professionals have multiple options to opt for e-procurement and e-sourcing. But identifying the right direction, guidance and toolbox remain a hindering aspect for growth. The process is flooded with critical procedures like the online ordering process, the procedure to pay systems and many more.
CHOOLS Strategic Sourcing and Procurement experts are seasoned veterans in business. Their experience and partnerships with accomplished industry players set them apart from the conventional consultants on procurement e-enablement.
Our team will empathize with your business requirements and will identify the appropriate set of e-procurement and e-sourcing tools to achieve optimal results for your organization. Our experts will assist you in arriving at best decisions for your organization to thrive and accomplish its strategic objectives. From implementing a full scale procure to pay system, to negotiation and buying of a purchase card, our service encompasses all of your unique requirements.
Positive outcomes identified with e-enabled procurement:
➤ Reduced maverick buying, costs and errors in ordering.
➤ 360 degree analytics and purchasing controlling solution
➤ Master data management.
➤ Implementation of e sourcing
➤ Document management system. For transparent invoices and contracts.
➤ Improved compliance of contracts, visibility on spend categories.
➤ Increased supplier involvement.
➤ Development and implementation of your digital roadmap.
➤ Transparent processes with ensured higher compliance.
➤ Significant savings through process improvements.
In an electronically advanced world, transaction time and accuracy impact the purchasing decisions. Streamlined processes, with e-sourcing tools, reduce the transaction time. CHOOLS e-procurement experts acknowledge your individual business needs. They contribute effectively to the identification and selection of optimal tools, technology choices and software solutions for your business. Their counsel is assured to result in effective interactions with suppliers. Our service aims at ultimately providing technical deployment and implementation support, to set your organization on the path of significant ascension. Our sincere knowledge transfer is conducted to effectively enable our clients to be capable with successful executions in their future initiatives.
E-Procurement Advisory And Selection - Case Study
A leading retailer organization desired effective change management with the smart implementation of Procure-to-Pay solution. The already established purchasing department in the company handled the inventory for the processes for allocation of expenses in the major business units. The difficult aspects to manage were associated with invoicing errors, incorrect rates, failure in applying pricing conditions and economic dependence. The observation motivated our client to adopt a Procure-to-Pay system that would enable them to control their costs and their relationship with the suppliers. It would reinforce professionalism in their purchasing activity. Chools was assigned the task to support deployment and the desired change in their organizational environment.
➤ The objectives of the undertaken project also included the establishment of project sponsorship and creating awareness among the end-users concerning the solution’s value.
➤ Chools clearly defined the communication approach. The communication strategy utilized several mediums for its advantage and outreach. A local network of key users was set up. The local managers of the organization transmitted the key messages to the end-users.
➤ Chools designed the training material based on real cases and practical scenarios. The training program was hosted in all the major business units.
➤ Thousands of end-users were trained who held the responsible roles like those of requesters, managers, sales executives and clerks. The projects got sponsored by local business unit managers. Automatic matching of invoices and purchase orders resulted in 90% success. For 97% purchase requests, there was a validation with consistent amounts. 2000 accounts were registered payable.
➤ A multi-national corporation headquartered in a prominent first-world city followed the manual practice of handling their purchasing process from purchase requests to invoice matching. The purchasing function was a decentralized one.
➤The corporation aimed to improve the organization’s processes by centralizing the purchasing function. The set goal was intended to standardize the process and approval workflows for indirect purchasing.
➤The approval time was long because of the use of the paper trail, which leads to document loss. There was a lack of compliance and intense maverick spending due to lack of budget monitoring.
➤The corporation was expecting a solution that automated their operational tasks with monitoring of their performance. It had to drive better spend control and better financial security with discrepancies.
➤Chools was approached for its flexibility and ability in automating source to pay process with improved control.
➤We ensured the implementation was rapid. The main objectives of the deployment included centralizing the purchasing process, automating the approval workflows. The corporation’s reporting capacity was improved to improve forecasting capacity.
➤Chools developed one centralized application to manage all purchasing. The organization had improved supplier management. The solution led to better contract management and sourcing practices.
➤Use of paper was dropped and electronic invoicing was adopted. Invoice matching process turned fast. Dispute management was simplified. All lead to cost reduction in indirect spend.
➤Spend analysis was improved using Chools’ reporting capacity for the quarter-end. Our intuitive interface ensured easy user adoption minimizing the costs for change management.
➤Procurement automation software implemented resulted in exceptional source procurement optimization for the corporation. It leads to reduced operational costs. The major reason being 90% reduction in maverick spend. With centralized purchasing activities, the corporation now can conduct several functions with reduced time and money. Resulting in 15% cost savings for the company. Their negotiation power was reinforced with their suppliers and 15% savings was achieved from creating better purchasing opportunities. The corporation also aims to reduce costs by expanding the use of the solution to other departments.
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