Does your Enterprise Resource Planning or “ERP” platform have a requisitioning system that is easy to use? Do you feel that deploying that solution to every employee who needs to buy something is too costly and not viable?
If you own a business and have a desire to increase revenue and save money, then you should know that indirect purchasing constitutes a significant part of a company’s or organization’s total spending. You have guessed it right, you can make a considerable change in the company’s profit figure simple by reducing the indirect costs.
With KloudGin’s Cloud Procurement Software by your side, you will be buying whatever you need from a small number of suppliers so that you get to enjoy the most effective terms and the best pricing. It will enable your company to gain full control over the costs, and will eventually help in stopping maverick spend and reducing possible fraud.
It is true that your business will not die simultaneously if you don’t use Mobile Procurement software but in the long run, it may hamper the future of your company. By taking the necessary steps to automate your company’s procurement functions, you will be making your company shift to the tracks that will lead you to success and increase profit in the forthcoming years.
You should know that procurement is one of the most disregarded and misunderstood functions of a company or an organization. However, in reality, procurement optimization holds the potential to produce numerous benefits and increase the figure of your company’s total profit.
For sure, like any other customer or a sensible business, you would like to have a look at the benefits of using the procurement software in order to make the right investment decisions. Have a look at the benefits that you will reap for years by using Procurement software.
- Limits unnecessary purchases by offering greater visibility
With KloudGin you will be able to automate processes in order to enforce your organization’s purchasing policy. You will have tight and better control over who is allowed to buy what kind of goods, which suppliers should they contact and where the purchased goods will be delivered.
All the purchases will be pre-approved via workflow which will ensure management visibility. In addition to that, you will also be able to add advisory roles to the workflow for allowing the purchase of specialty items. Invoices received from
Suppliers can be easily matched with good receipt and PO in order to create precise touch-less payment. All these easy controls will keep your company or organization secured against fraud.
- Will eliminate any cumbersome manual work or steps
One of the major problems that almost all the procurement operations have to face is none other than the purchase order approval process. For getting approval for a number of equipment purchases, it will require all the documents to be uploaded, emailed, downloaded then printed and after that signed, and emailed back. All this can waste a lot of time and requires a lot of stressful manual work. All these bottlenecks can easily be eliminated with the use KloudGin’s Software.
- Less number of non-preferred suppliers means greater cost savings and less risk
Dealing with too many suppliers places your company in a dangerous place as with numerous vendors you will have numerous contracts. Keeping track of all of them drains resources. By reducing the overall number of suppliers, the risk can be reduced a lot and in addition to that, one can also take benefits of huge corporate discounts.
- Have all the contracts accessible from a central repository
In the absence of a capable procurement system, all the contracts from different vendors will be scattered across the organization in different subsidiaries or divisions, and this is nothing but a compliance nightmare that can turn into reality.
For staying compliant, you will have to create a central repository and with the KloudGin’s Procurement Software, you can centralize all contracts and data which will help you in remaining compliant. This will also help your company in getting control of overlapping or duplicate contracts. Potential compliance issues will be flagged which will allow you to take necessary steps.
Using a procurement software or solution is not merely a good option but in the ever-changing and highly competitive business world, it has turned into a necessity. If you have a desire to keep your business afloat and competitive in the related industry, then you will need to make sure that the procurement organization must be strategic rather than just being transactional.
One other benefit that you and your company will get to enjoy by employing KloudGin’s Procurement Software will be freeing the procurement professional in your organization from handling low-value tasks so that they can handle the important strategic activities. Hence, you can optimize the resources and work of your organization by using this software.