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Advantages of e-sourcing in Simplifying the Company’s Procurement Process

Sourcing is an activity carried out to find sources of goods and services needed by the company. Generally, Sourcing is a subsection in a procurement process.

Procurement is an activity that always exists in a business. This activity aims to obtain goods or services that best suit the needs and budget of the company. Unfortunately, the complex and convoluted process often creates various problems that prevent the company from achieving the true goals of these activities.

Conventional Sourcing Process and Its Disadvantages

The Sourcing process should meet the principles of being effective, efficient, transparent, open, competitive, fair, and accountable. However, these principles are quite difficult to achieve in the conventional Sourcing process.

This is because the complicated and convoluted stages open up opportunities for acts that can harm the company. In fact, these frauds are often carried out by internal company parties who want to get personal gain.

Benefits of Using an e-sourcing System for Companies

In the current era of information and communication technology development, the internet has emerged as an effective and efficient medium for conducting various online transactions. There is no exception for conducting transactions for the Sourcing of goods and services.

By switching to e-sourcing software, companies will get many benefits, starting from saving budget, time, and resources to carry out administrative activities.

With proper utilization, this system will help the process of procuring goods and services become better. The company’s spending becomes more controlled, and the velocity of money can be more stable.

That is the advantage of e-sourcing in simplifying the company’s procurement activities. If you want to start using e-sourcing in your company, just visit Medius. A site that is present as a total solution for the procurement of goods and services that is more effective and efficient.

E-sourcing Solution to Simplify the Process of Procurement of Goods and Services

Strategic sourcing solutions to answer problems that generally arise from the conventional procurement process, e-sourcing comes by simplifying the procurement stages so that it becomes more effective, efficient, and transparent for all parties.

If interpreted, e-sourcing is a strategic sourcing solutions for the procurement of goods and services that utilize electronic technology such as the internet and computer networks. Since the entire process is done digitally, this system can simplify digital procurement stages which are generally complex and time-consuming.

Through the e-sourcing system, the vendor search stage, price comparisons from each vendor, approval, monitoring, billing, and payment are all done digitally. Thus, the procurement activities carried out will not be separated from the principles of good procurement, namely effective, efficient, transparent, open, competitive, fair, and accountable.

The role of procurement of goods/services is very large for the success of organizational goals, it is time for companies to think about the potential for implementing innovative Sourcing methods to increase added value through the procurement function, especially for organizations with large purchasing potential.

Medius focuses on offering easy procurement of goods through an e-sourcing software platform specifically for business people.

abubakarbilal
Abubakar is a writer and digital marketing expert. Who has founded multiple blogs and successful businesses in the fields of digital marketing, software development. A full-service digital media agency that partners with clients to boost their business outcomes.
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