February 3rd, 2019 • Procurement Process
Connecting the three crucial ‘P’s–people, processes, and paperwork–procurement has grown from a typically small branch of the business to a core, indispensable operation. In fact, workplace advisory organizations like HCMWorks rate procurement and other supply chain processes as highly important as sales and for the success of any for-profit business. This is why corporations around the world are scrambling to pick the right procurement platforms.
To fully understand what they can do for your business, you’ll need to get a firm grasp of the concept of procurement platforms.
Procurement platforms are dedicated environments where the processes central to procurement can be created, installed, and run, covering every task in the procure-to-pay cycle.
Procurement platforms are designed to streamline the process, help business users procure the right item at the right price, and build strong relationships with vendors.
eProcurement platforms are usually designed in a modular style, with separate elements taking care of procurement functions. These are usually the top 5 choices:
Given that most organizations have a complicated hierarchy (due to sheer numbers at enterprises, and due to multiple roles in SMBs), purchase requisitions can feel as tricky to master as those ‘wacky wire’ games at carnivals.
If you’ve got an eProcurement platform with a dedicated purchase requisition app, you can cut down redundancy, delays, and inconsistencies in the process.
Consider this quote from the Supply Management Handbook: “It often costs organizations more than $100 in administrative expenses to generate a purchase order… In many firms, the cost of managing and generating a purchase order can exceed $200 per transaction.”
Traditional purchase orders simply aren’t cutting it, and this needs to change. Businesses across the world today use automated purchase order solutions like the one offered by KiSSFLOW. Automated procurement platforms like this can drive positive changes in productivity and cost efficiency by streamlining purchase orders.
Manual invoice systems, the kind that are delivered through email and monitored through clunky spreadsheets that routinely cause errors, cause major bottlenecks in procurement.
The payment cycle gets delayed, receipts are often lost, and this costs the organization precious time, resources, vendor relationships and reputation.
WIth invoice approvals from a solid eProcurement platform, businesses can stay ahead of receipts, shipping, taxes, invoices, and hit deadlines with ease.
Transparency is key in vendor management, and any good eProcurement platform needs to offer dedicated app that achieves full disclosure. This way, your procurement team has the tool they need to pick the right vendor.
With a good procurement platform, you can quickly identify bottlenecks and errors in your vendor management process, and establish fruitful relationships with all the right vendors.
Disorganized filing cabinets, a common feature of manually managed contracts, can be the failure of an entire procurement department, however qualified or experienced its team members.
By bringing order and structure to contracts, you can easily keep track of them. Organized contract management means an improvement in procurement as a whole.
These are the key features to help you pick the right procurement platform. Each feature is specifically important to the tasks involved in any procurement department.
Displays actionable insights backed by collected data, helping you take the right decisions.
Purchase orders are matched against their respective purchase requests and invoices.
Automation and relevant notifications speed up the approval process.
With KiSSFLOW’s drag-and-drop tools, easily tweak fields, forms, and more.
Use KiSSFLOW apps easily in tandem with other solutions you may be using.
An easy-to-use workflow platform like KiSSFLOW can make a procurement process easy, simple, consistent, and efficient. Designing a task-oriented app is a simple matter, easily explained in 4 steps.
Design the working skeleton of your procurement app from the ground up, using forms, workflows, permissions, and more. Alternatively, use one of KiSSFLOW’s 50 pre-built templates as a starting point.
Customize every last detail of the app to fit your organization’s working style perfectly. Edit forms, templates, permissions and entire procurement workflows with simple drag-and-drop modules and an easy-to-understand visual design.
You can tweak the app’s functionality, and build everything from a simple data collection tool to something that can handle complex procurement processes by auto-fetching data and restricting data access hierarchically.
Once you’re satisfied with the app you’ve designed, you can instantly share it with the relevant business users, who can start using it right away. There are no delays from overloaded IT teams when you create procurement apps using the powerful KiSSFLOW platform.
Once business users start using your app, you will be able to identify the bottlenecks in the process. Armed with this data, you can then tweak your process, and continue making changes as and when required.
If you are having a hard time finding the right procurement system, you may need to consider building it yourself.
KiSSFLOW is a procurement software that lets you build and automate all of your core processes from the same platform. Procurement teams can design their own forms and workflows without needing to rely on software vendors or IT partners.
Automated workflows with your own procurement platform will save you money and boost efficiency.
Take a look at KiSSFLOW and see how easy it is to create your own procurement platform!