What’s the worst that can happen if you make a mistake while shopping for new e-procurement software? You could end up with a platform that doesn’t fit your company needs, one that slows down your business processes, doesn’t allow for your brand to scale up, doesn’t move you ahead technologically, and one that your staff and partners hate working on. In fact, a bad software choice could take you beyond poor ROI and actually bury the company.
There is a lot at stake when software shopping for enterprise. Find peace of mind by learning about 4 common mistakes to avoid when shopping for e-procurement software.
1. Going with an Outdated On-Premise Solution
A lack of cloud capabilities in an e-procurement solution will have a negative impact on functionality. e-procurement that handles cloud-based integration as an afterthought rather than an up-front need of the system has the markings of an investment that will quickly be obsolete. Existing in the cloud is a mainstream requirement of being competitive nowadays. Cloud-based solutions offer transparency via centralized record-keeping, big picture data analytics, and streamlined procure-to-pay (P2P) processes with contract integrations. Moving on from outdated on-premise solutions and into the cloud is long overdue.
2. Poor Automation
In today’s “digital first” supply market, the flexibility of remote access and data sharing across platforms gives your brand agility that on-premise solutions simply can’t match anymore. With that in mind, leverage any cloud capabilities by making sure you only consider software with excellent automation options. Cloud-based document and business process operations (BPO) automation are the two main functions that can turn your e-procurement software into a productivity machine. Step-by-step functionality is normalized and every activity from first contact to final negotiation is recorded in the system without any effort.
3. Ignoring Digital Experience (DX)
Whether it’s your own employees or your supply partners, a varied population of end users will be making connections and doing business in the software environment you choose to purchase. Just as you should be a responsible customer and not nickel-and-dime your suppliers into oblivion, it’s important to be a responsible host and offer the kind of robust environment where business and trade flourish instead of flounder. Penny-pinching to trim back on the digital experience (DX) is a huge mistake to avoid. If you want to build a strong environment for buyers and sellers, you must choose e-procurement software with business-to-business (B2B) marketplace hosting that gives vendors the user-friendly “Amazon experience” rather than a bare-bones digital environment. Don’t skimp on DX.
4. Choosing the Wrong Software
There is no such thing as the best software on the market. There is only software that works for your company and software that works against your company. Until you understand the functional needs of your global departments and the emerging expectations of partners in the industry, it’s impossible to evaluate which software is right for you. Take the time to discover the demands of your end users:
- What are they happy with in your current software?
- Where do they see areas of the current software going unused?
- In which processes are there opportunities for increased efficiency?
- How much support will they need to weather a system change?
These questions will help you evaluate the type of e-procurement software that will work for your company and meet the needs of your brand.
If you are a small or medium-sized company that hasn’t utilized e-procurement tools yet, then congratulations you get to custom choose your system build from the ground up. You have the chance to look at your functional infrastructure, narrow down your choices by platform, and choose what fits best.
When you are ready for a test run, don’t hesitate to request a demo and see how ProcurePort’s cloud-hosted e-procurement solution works from the inside out.