E-Procurement system or Electronic Procurement is software-based automation of the procurement and the user process that helps people to make a secure purchase. It is a Business to Business or Business-Consumer or Business- Government purchase and sale of stocks, work, and services via the internet. The automatic e-Procurement process consists of the entire method right from selecting goods and services from a catalog to deciding to purchase. The next steps involve order approval, placing the order, receiving a purchase order, receiving that order into the supplier’s system, invoicing, and finally delivering the accepted goods and services.
About the E-Procurement Software
The selection of the best e-procurement software set-up is necessary to make e-procurement active in any organization. By switching to this online feature, you can eliminate the need for a paper-based process. Additionally, this software also allows people to search items they want to buy through online catalogs. This is an experience that is far beyond online shopping as the software allows the employees to manage their purchases based on their user’s permission. This procedure starts with the approval for purchase requisition. Which, if approved, the user gets the authority to use, and if rejected, it is then automatically sent to send back for approval.
The e-procurement also stores data of several suppliers that the procurement department has already approved. Typically, these are vendors that have established relationships through a contract in place. These contracts remain stored in PurchaseControl along with the vendor’s contact information details to keep things organized.
The e-procurement process involves taking care of a series of tasks. The tasks include managing the e-informing system, e-tendering system, e-auctioning method, merchant administration, inventory supervision, purchase order unification, verifying order status, notice after shipment, e-invoicing, e-payment, and even contract management.
Benefits of e-Procurement systems
Switching to the e-Procurement system is very beneficial. Thinking how? Following are some of the advantages mentioned below-
Automatic processing of the order with electronic Purchase Orders and electronic invoicing makes the business move quickly and swiftly, involving less cost.
It involves an improved workflow in the internal procurement process.
A mutual benefit is offered to everyone using the e-procurement system.
The system connects you to the external supply chains that provide real-time information for enterprise resource planning and supply chain management.
Identifying the cost-saving opportunities and gaining knowledge of the purchasing process that increases the visibility of the expenses and provides better money management ideas.
E-procurement leads to saving the time involved in the entire procurement process.
The entire procedure becomes very transparent, which makes the implementation successful.
The e-procurement platform is capable of handling malpractice of cartel formation to a greater extent.
It ensures protecting the information that is being provided by the users because, in an offline process, the confidentiality of the procurement process might be compromised.
Are you ready to embrace e-procurement?
Well, not all the e-procurement system is the same. The software changes based on enterprises. Some orders may have fewer features, while the other may have many depending on the type of business. You must make sure that you get appropriate software that completely fulfills your requirements. Finally, before boarding on to the e-purchasing system, identify the exact reasons why you need this and how much cost-effective will it be? How can you make it suitable for the purchasing orders and budgets? However, for larger organizations opting for an online system is reasonable as it requires keeping a track record on the expenses, receipts of the goods, and a lot more.
So if you want to register for any online tender process, you have to fill out a tender form first. Take, for example, go to the Mahatenders website and log on to their website by following the instructions they provide. Mahatender is an electronic tendering system of the Government of Maharashtra to which you can get access only after filling up a form online and registering to it. Once registered, you can acquire tender information, enhance your delicate response strategy, create a compelling bid, get a knowledge of the winning bid, and finally submit the proposal. Or if you want detailed information regarding mahatenders, you can always visit BidAssist for more specifics.