What is ePurchase Procurement Software?
ePurchase procurement software (Electronic purchasing), automates and extends manual buying and selling processes, from the creation of the requisition through to payment of the suppliers. E-purchasing is used in the procurement of goods and services that are of low value and high volume. It electronically simplifies the purchasing process of such goods and services.
ELIT ePurchasing aims to reduce your organization’s purchasing expenses by up to 35%
Purchasing processes are critical to any organization’s success. Procurement professionals spend a lot of time understanding the market, researching various suppliers across multiple categories, managing the sourcing and purchasing interests and requisitions through the approval process and different hierarchical layers, leading and managing the bid process, and ensuring best-in-class value is derived for the business.
Implementing a robust, scalable, and simple ePurchasing technology is critical to the various demands of the purchasing functions as Electronic purchasing (e-purchasing), automates and extends manual buying and selling processes, from the creation of the requisition through to payment of the suppliers.
ELIT, the best ePurchase eProcurement software solution, helps navigate complex processes by reducing time, effort, and costs associated with procuring goods and services to get the best value out of purchasing events.
ELIT ePurchasing is one of the best cloud-based e-procurement software solutions enabling businesses around the world to reduce costs and manage spending and growth.
With ELIT ePurchasing Cloud, you can:
- Reduce the manual data entry
- Make the approval process faster
- Save and retrieve data.
- Make invoice processing easy
- Reduce the time required to track the commitments.
ELIT eProcurement software solution helps save, retrieve, manage, and track end-to-end high-volume data by automating the entire procurement lifecycle within a single framework. With ELIT eProcurement software solution, you can.
- Control budgets in real-time
- Access historical data
- Reduce inter-departmental and personnel dependencies
- Enhance data security
- Enhance internal and external collaboration in real-time
- Improve and simplify internal approval processes
How does the ELIT eProcurement cloud software solution work?
ELIT eProcurement software solution is primarily utilized to automate and streamline the whole purchasing lifecycle.
1. Supplier Management
ELIT Supplier management is the component of procurement that manages a comprehensive supplier database’s data, communication, operations, and performance. Supplier management not only provides information on suppliers but also builds relationships between business and their subsequent suppliers.
2. Purchase to Pay (P2P)
The ELIT purchase-to-pay process is another end-to-end procedure that allows businesses to obtain a specific product or service from a supplier. The technology is also used to make payments for services provided to companies by other businesses.
3. Analytics
ELIT eProcurement software analytics is a sure benefit for every organization that wishes to make use of its numerous tools and applications. The same requirement applies to the online purchase procedure. Businesses will be able to take stock of analyzing and implementing corrective spending actions using analytics tools. The component of the ELIT e-procurement process is often handled by procurement officers and financial specialists.
ELIT purchasing cloud offers many features to complement your existing business processes. Some of them are:
- Quotations from various suppliers
- Recording Payment terms in PO
- Excise Consideration in Purchase and Process Orders
- PO authorization
- PO amendments with complete amendment history
- Purchase order entry with item details and other details like taxes and discounts. Extra charges like freight, P&F.
- Flexibility to generate Purchase Order in domestic and foreign currency
- Value-based approval of indents
- Reports for order tracking for complete control over the procurement cycle.
- ePurchase in ERP aims at making available the required materials of the right quality, in the correct quantity, at the right time, and at the right price for the smooth functioning of the organization.
Why You Should Consider ELIT ePurchasing Cloud
- A User-Friendly Interface: Filling out forms, creating invoices, and sending them to the relevant persons should all be accomplished with a single click.
- Real-Time Conversation: Real-time integrations help you avoid wasteful spending and remain on track with your budget.
- Speed and Flexibility: The introduction of new technologies and cloud computing has decreased implementation time from months to days, and each organization’s setup approach is unique.
- Automated Approval Process: The procurement department or management should provide the workflow criteria, and approval should be automated at the user and corporate levels.
Conclusion:
ELIT.ai ePurchase platforms provide you with more flexibility and control throughout the whole purchase process. Control is fundamental to the contemporary ePurchase system, from who can place an order to who can approve and purchase it, and lastly, who can receive against or pay it.
