E-Procurement

Four51, Inc.

SupplyWorks, Inc.

Guide to e-Procurement

Save time and money by streamlining your purchasing system
By Judy Artunian

e-Procurement lets you automate the process of purchasing equipment, parts, supplies and professional services online. Functions that can take hours using traditional paper-based purchasing procedures can be accomplished in minutes.

You can search vendor catalogues, issue purchase orders, track the status of your orders, authorize payments to your vendors and handle many more functions electronically. Among the benefits of purchasing electronically:

1. Greater efficiency. You can more quickly identify the products and services that meet your specifications.
2. Reduced costs. It's easy to pinpoint the best prices. e-Procurement can also reduce the administrative costs associated with purchasing. A study by Gartner Group concluded that companies can slash purchasing costs by up to 30 percent by using Web-based e-Procurement solutions
3. More control of your inventories of materials and supplies.

Action Steps

The best contacts and resources to help you get it done

Discover a range of e-procurement solutions online Software and Web-based solutions can help get you underway.

I recommend:  Ketera, Acquirex, Verian Technologies and Palmas Development all offer e-procurement services, software and other solutions.

Find the products and services you need Most major small business suppliers, including office product retailers and phone companies, are set up for electronic purchasing transactions. Find out which suppliers are ready to sell electronically by perusing the Web sites of e-procurement solutions providers that specialize in uniting business buyers and suppliers.

I recommend:  At BuyerZone you can search 125 product and service categories, request quotes and complete your purchase.

Get organized Learn how you can automate and manage all of your purchasing, including e-procurement transactions.

I recommend:  Software packages such as Procure+ from ePlus and Purchase Manager from Verian Technologies can do the job.

Tips & Tactics

Helpful advice for making the most of this Guide

• Before investing in an e-Procurement system, look at your current purchasing system and analyze what works and what doesn't. That will help you select an e-Procurement solution that suits your needs.
• The transition from hard copy to electronic procurement can frustrate employees. Take care to organize the catalog content from your suppliers so that employees can easily find the parts and supplies they're looking for.
• Give all employees who are involved in purchasing ample warning that you are changing the system. Reassure them that they will have plenty of time to train on the new system. Get help from your e-Procurement vendor if you can't train them in-house.