eSourcing Solutions Deliver the Best Results

Charlotte Sutton
Charlotte Sutton,
Effectively defining the buying need and selecting the right supplier is critical for an organisation that wants to reduce both cost and risk.
But whether it's for a one-time capital equipment purchase or service contract, or for ongoing supply of frequently used goods or services, the process can be complex and time consuming.

So how does PROACTIS and the use of eSourcing tools help?

PROACTIS enables procurement capacity to be increased by standardising processes and documents and exploiting the benefits of electronic sourcing methods. Using eProcurement tools, sourcing events can be performed in a fast, consistent, successful manner by either functional departments or Procurement in a fraction of the time. And in some categories, the ability to perform frequent, effective eAuctions can drive even greater savings.

To learn more about PROACTIS jump-start solution for eSourcing click here.

eSourcing solutions have been an essential part of the procurement toolkit for decades and are generally regarded as crucial for delivering best results. However, knowing when to use them is key. Online tools should be used to support best practice and process improvement. For example, a tender involving numerous suppliers can often benefit from a well planned and prepared auction. Equally, you may not want the sourcing method to be too aggressive with too much focus on the lowest price rather than service and value being taken into consideration.

The key steps to consider in any eSourcing project are to:
  • Categorise and prioritise sourcing event types
  • Establish your standardised approach
  • Educate stakeholders on new Sourcing procedures
  • Consider the balance between price, service & value components
  • Establish trust with suppliers
  • Ensure the system is easy for suppliers to use
  • Perform initial sourcing events for rapid ROI
The benefits of using the right combination of technology and expert assistance - built on standardised sourcing event processes, electronic document templates, collaborative requirements development, auto-assisted response scoring and eAuctions capabilities - can be significant:
  • Increased savings
  • Reduced supplier risk
  • Improved supplier relations and performance
  • Compliance with regulatory requirements
  • Reduced administrative costs