Cloud Procurement Software for Small and Medium-sized Enterprises (SMEs)
As a result of cloud computing , business software solutions that were previously only available to larger companies with deep pockets have become democratised.
For many years, these larger companies invested significant funds in on-premise software that was customised, implemented, supported and updated by consultants. They gained competitive advantage over companies not using these software’s due to the efficiencies and cost savings that these software’s delivered. For small and medium sized businesses (SMEs), the costs of the software were prohibitive at the time.
Benefits of Cloud Software
Cloud-based software can be accessed remotely from almost anywhere, and it can be kept up to date remotely without requiring expensive on-site labour and consultants to maintain it.
Since the introduction of the cloud, the number of business solutions available to SMEs has exploded, from the basics of accounting to HR and Sales CRM. Now, most companies are using cloud-based software systems to deliver efficiencies and cost savings. As a result, employees can spend their valuable time on more important and high-value work that will drive the business forward and generate revenue.
Cloud Based Procurement Software
The procurement software industry has generally lagged behind this trend, with cloud-based solutions only available to larger companies before becoming affordable for SMEs more recently. Larger companies have realised for decades the importance of procurement solutions to achieve efficiencies and reduce costs, manage risk, provide important data and more recently, ensure they are working with suppliers whose values align with their own.
Procurement software (sometimes called eProcurement software) allows companies to source goods and services, manage contracts, manage suppliers, and manage savings. Modern procurement software is usually hosted in the cloud and can be particularly cost-effective when compared to older systems because there is usually little need for training or implementation costs since self-service and intuitive procurement software is commonplace.
Conclusion
In order for SMEs to enjoy the same benefits as larger companies, one procurement solution has been developed specifically for them. oboloo is an intuitive self-service solution that gives SMEs visibility and control of the entire procurement process, from sourcing to contract management to supplier management to savings management.
Learn how oboloo can save your company time and money through procurement. Get a free demo at www.oboloo.com.
Additional Resources
These external articles contain useful information on Savings Lifecycle Management: