In our last blog we discussed the common obstacles that procurement is likely to face while transforming the eSourcing process. (Click here to read part 1 and part 2 of the series)
In this blog we will talk about the benefits that come along with leveraging technology in your sourcing process.
- Increased level of cost savings
- Better alignment of sourcing and business objectives
- More robust management of key spend categories
- Supply risk assessment
- Optimization of ideal suppliers
- Higher level of accountability while executing sourcing projects
- Enhanced data reporting/analysis leading to informed and better decisions
- Increased visibility into sourcing projects
- Structured process leading to shorter sourcing cycle time by 25%-40%
Stay with us as in our next blog, the last in the series we discuss some implementation best practices.
