Buyers of e-procurement are looking forward to reduced inventories, lower procurement costs, lower product costs, shorter procurement cycle-time, higher (internal) customer satisfaction and higher value-add from procurement professionals. Suppliers of systems and services promise those benefits plus secondary cost reductions and efficiency improvements in enabling organizations as Finance and Inventory Control. Following is a compilation of benefits derived from case studies and supplier references.
Accounts Payable: obtained increased efficiency through reduced matching work, automated payment vouching and reduced invoice errors.
Treasury: reduced cash requirements through increase predictability.
Project Accounting: efficiency improved through automated posting of purchases and costs.
General Accounting: improved performance from automated invoice remittance, reduced use of general journal entries and more efficient audit and control activities.
Budget Performance: improved by including committed costs as they are recorded.
Receiving Department: efficiency improved as a result of less frequent matching problems and automated recipient locations as well as from being able to predict future workloads.
Inventory and Production Control: obtained higher accuracy and increased yield through more efficient inventory handling and production capacity.
Every business function that is involved in the procurement process from budgeting to requisition to receipt and payment must be engineered into a seamless system with an absolute minimum of inherent delays and maximum use of automated transaction handling.
Accounts Payable: obtained increased efficiency through reduced matching work, automated payment vouching and reduced invoice errors.
Treasury: reduced cash requirements through increase predictability.
Project Accounting: efficiency improved through automated posting of purchases and costs.
General Accounting: improved performance from automated invoice remittance, reduced use of general journal entries and more efficient audit and control activities.
Budget Performance: improved by including committed costs as they are recorded.
Receiving Department: efficiency improved as a result of less frequent matching problems and automated recipient locations as well as from being able to predict future workloads.
Inventory and Production Control: obtained higher accuracy and increased yield through more efficient inventory handling and production capacity.
Every business function that is involved in the procurement process from budgeting to requisition to receipt and payment must be engineered into a seamless system with an absolute minimum of inherent delays and maximum use of automated transaction handling.
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