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Difference Between Procure to Pay and eProcurement. Eprocurement or e-procurement comes from electronic procurement. Benefits of an eProcurement Solution. Also, an eprocurement solution provides you with clean spend data, which is the basis for a sound spend analysis and eventually relevant category management.
Whether it’s moving on from a complex custom eProcurement solution or stewarding public trust, there are many factors that Caribbean procurement leaders need to navigate to see success. and Joe Fagan, an eProcurement consultant with many donor banks, who both work directly with Caribbean procurement departments.
With resources flat or declining, the only way to accomplish more is to free capacity through automation and improve the quality and accessibility of information for faster, better decision-making. It sets the foundation, reducing operating costs and freeing capacity. Far too many organizations view digitization as an end goal.
“As you add tools and technologies to try to solve these challenges, the landscape becomes very complex, creating data silos that limit stakeholders’ access to the data they need to understand supplier capacities and forecast effectively.” Start by Putting the Right Technology in Place.
Increased Capacity for Strategic Thinking. If procurement is to do more, it must be more efficient and free up capacity for higher value activities that support new strategic priorities.
The conference will address a number of critical issues, such as: How to accelerate the digital transformations required to free capacity, improve decision-making and enable scalable collaboration with suppliers and stakeholders? How to manage today’s crisis, and prepare for the next?
Strong leadership with the capacity to convince and rally the board is critical. BUT, technology is only there to empower innovators through their paradigm shift. Procurement digitization is the result of having innovative leaders such as Sylvie Noel, CPO of Covéa.
That frees capacity, increases influence and improves access to insights for better decision making. Bringing more spend under management and digitizing are key steps along the way. But it doesn’t by itself give you an edge. To do that, you need teams that can act on that information, use that free time, to bring their best ideas to life.
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