Six e-Procurement Capabilities You Can’t Live Without
State & federal government procurement laws define rules for the procurement of supplies, services, and real property for public-sector organizations like schools, cities & towns as well as government agencies. Internal policies, industry best practices, and industry regulations influence how private organizations purchase supplies, labor and services. In most organizations, procurement is a documentation-intensive and time-consuming process requiring extra administrative effort and cost. Purchasing leaders face the cumbersome challenge of coordinating multiple processes, multiple buyers, multiple suppliers, multiple documents, and multiple tasks. Files pile up, deadlines are missed, savings opportunities are missed, and excess administrative costs are incurred. Selecting a system to solve these challenges involves multiple types of system capabilities that include:
Process (Workflow) Management that enables smooth information flow and work activities internally and with suppliers
Document Management allows buyers and suppliers to capture and organize multiple documents, that include purchase orders, supplier quotes, invoices, required supplier certifications, etc.
Task Management that coordinates the activities of multiple employees internally and suppliers externally involved in the procurement process.
Supplier Network Management that allows suppliers and buyers to fiind, certify and manage the activities of thousands of suppliers in their network.
Single Procurement Interface for Supplies, Labor and Services to handle supplies, labor and services as well as real property.
Bidding and Ordering Capability to manage supplier bids (FRQ, RFP, IFB) & quotes, as well as ordering, contract award and ongoing contract management.
Evaluate systems for the above capabilities. Ask each vendor to demonstrate these functionalities so you’ll have a better understanding of each system’s ability to solve your procurement needs today, and adapt to your changing needs in the future.