A 3 Minute Guide to E-Procurement Software Selection

E-Procurement Software is not a Luxury, but a necessity!
• Businesses are striving to be more agile and data-driven. When we talk about
procurement, "The Sky is the Limit".
• Across industries among all C level executives - CPO, CFO, CIO & CEO. There is now a
realization set in the context of the importance of digitization for procurement
processes.
• Digitization of the procurement process has become a necessity to maintain & enhance
the competitive edge of any organization as the market environment is getting more &
more dynamic.
• There is a continuously growing demand for scalable & easily adoptable digitization
platform that can be seamlessly adopted and be the extension of your core legacy
system.
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What challenges Procurement Organizations are facing?
• Considering the pace at which the decisions are expected to be taken in the
procurement function on a daily basis.
• It is imperative to have real-time contextual information & the ability to act quickly to
ensure optimum decisions that can mitigate risks, quickly address demand, minimize
TCO (total cost of ownership) & ensure compliance.
• Thereby generating huge savings for an organization.
• However, the challenge today is how to select the most suitable technology partner to
transform the traditional procurement landscape to Digitized dynamic procurement
function.

Consideration for Selection of your Technology Partner for
Digitization of your Procurement Landscape
To address this challenge we are enumerating a few critical points for considerations while
selecting your partner.
1. Align with someone who understands your pain areas!
2. Don't Fall for Perception, Go for Reality Check
3. Determining the sustainability of your Technology Partner
4. Ensure Best Security Measures
5. Evaluate Adaptability

Align with someone who understands your pain areas!
• It is of paramount importance to align with someone who understands procurement in
the context of your business & the challenges pertaining to the same.
• Be very focused on your checklist at the functional level which can assist you to achieve
your end objectives.
• This will assist you to avoid possible confusion arising out of different technology
companies proposing at a very high level what is the value they can deliver.
• First of all, It would be most apt for you to list down your objectives prior to initiating an
evaluation of probable technology partner.

Don't Fall for Perception, Go for Reality Check
• The proof of the pudding is in eating. How so ever good is the dressing if the taste is
not good, you can’t eat.
• The best reality check will be to take a test run which will give you a fair idea on
deliverables.
• Same principle applies here! Don’t get carried away with the packaging of any solution.
Get deeper to do a reality check.

Determining the sustainability of your Technology Partner
• Selecting your Technology Partner is like a marriage that normally lasts for a lifetime
unless there are major hiccups between the partners.
• Ensure that you are absolutely certain on deliverable on both the counts.
• Make sure that your technology partner is committed to service your needs on an
ongoing basis.
• When you start using a solution, your expectations start changing & you would like to
go beyond what you have already achieved.
• Another vital factor is who do you think can support your users on a sustainable basis.
This will depend on the organization DNA of your technology partner.

Ensure Best Security Measures
• It is of paramount importance that your technology partner has taken adequate security
precautions for the security of application and infrastructure.
• You need to evaluate in detail how your data is expected to be protected.
• Before you begin the journey of any further discussions, request your IT team to define
clearly security parameters desired & involve them in the initial stage of discussions to
ensure that all your efforts of evaluating a solution on functional aspects later don’t go
waste.

Evaluate Adaptability
• Last but Most Important point is to determine which solution is most suited for adoption
by users in your organization.
2. It is of paramount importance to determine which solution will be most adaptable by
your users. i.e. your buyers, suppliers, techno-commercial approvers & the whole eco-
system of external partners relevant to your procurement function. As failure to have
adoption will result in the complete collapse of the digitization journey.
Two key elements are essential here:
1. Identify what fits your business needs. No technology company understands your
business better than you. Yes, a good solution will have in-built best practices & workflow
with compliance parameters build or configurable to suit your business needs. Ensure that
this is TESTED very well.

Please Don’t Forget!
Technology is not a driver, it’s an Enabler

(A Product of MavenVista Technologies Pvt. Ltd.)
https://mavenvista.com/
sales@mavenvista.com
+91-9099062080
+91-79-26463910

A 3 Minute Guide to E-Procurement Software Selection

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