Businesses that heavily rely on purchasing goods or services from a third-party may get involved in a long complex procurement process. It can take many weeks for the procurement team to evaluate the RFPs, showcase the findings to executives, negotiate terms and review all the responses to reach a successful conclusion.
It is a lengthy yet necessary process for many businesses, however recent technological innovations have given procurement a new face. Part of the reason behind this evolution is SaaS, a cloud-based delivery model that has paved the way for the rise of e-procurement.
SaaS technology has revolutionised the way the procurement industry conducts the internal process, allowing procurement teams to streamline their services, improve efficiency and cut down the processing time significantly. With that in mind, the list below explores how SaaS can benefit your procurement team:
Benefit #1: Simple and Speedy Installation
Testing and introducing new software features can be time-consuming, often taking months to years before the end-product reaches the public. In many cases, businesses run the risk of spending too much time and resources on a software rollout, only to fail at the time of deployment in the end.
With the help of SaaS technology, procurement departments don’t have to waste years implementing a new application as you can directly work with the supplier to minimize the risk, cut back the middle men and facilitate easier integrations.
Benefit #2: Promote Scalability
Seeing as e-procurement makes it easier to share data and keep up with changes whilst away from the office, your organisation is free to grow at your own pace without worrying about the capabilities of your software.
SaaS technology allows organisations to scale up seamlessly by taking away the drudgery of reconfiguring established infrastructure. With just a click of a button and a quick software update, you can bolster your growth.
Benefit #3: Room For Testing Products
Procurement departments often spend their time and resources attending demonstrations on new software. On-premise systems can demand a lot from your team, but it doesn’t guarantee quality nor does it ensure your purchases will suit the nature of your business.
SaaS solutions promote the testing of products first, allowing organizations to evaluate the performance of a new software on the go before making a purchasing decision. This can give your business a competitive edge, especially since you can test-drive multiple solutions until you find the software that is tailored to meet your standards.
The Bottom Line: SaaS Proves to be a Leading Approach that Pushes Procurement Industries Forward
It’s easy to think that shifting your procurement team to the cloud seems like a complicated process, especially regarding concerns about privacy. However, SaaS technology proves to be a reliable, secure, and highly scalable asset that can save your procurement process time, money, effort, and costly errors.
With that in mind, our expert team at oboloo can help seamlessly integrate cloud-based procurement solutions to your business. With e-sourcing simplified, we can help you and other leading organisations boost the efficiency of your sourcing, contract, and supplier management activities, based on your values.
Get in touch with us today and see what we can do to help your business!