Procurement Management Consultancy

Rock Spings provides much needed expert consulting in the fast changing procurement scenario. A revolution in procurement processes is quietly underway. Electronic procurement, or e-procurement, has been a requirement for companies wanting to do business with the government. Digitization of all phases of the procurement process is proceeding at a fast pace.  For stakeholders already in the game, and for new arrivals, trends in technology are rapidly reshaping how governments and businesses transact business with one another. As organizations learn how to identify and qualify suppliers, request bids, handle tenders, manage orders, and process electronic invoices, the opportunities are ripe for expert consultants to fill the gap. Specifically, e-procurement represents a series of sub-processes, including: e-Informing, e-Tendering, contract negotiation, e-Auctioning, vendor management, catalog management, Purchase Order management, order status tracking, Shipping Notice creation, e-invoicing, and e-payment. Each offers plenty of room for innovation and development.

In addition to the advantages offered to all users — improved efficiency, reduced errors, increased transparency, and reduced operating cost, e-procurement offers other advantages that make it particularly attractive for government entities. Among them are increased tax compliance, increased trust in government, and greater growth in the public sector as a result of other advantages.

Emergence of big data technology can enable an e-procurement platform to:

 

1. identify qualified vendors

2. identify strong prospects

3. respond quickly to secure the best price as soon as it appears

4. forecast demand based on historical patterns

5. get and maintain an accurate assessment of a supplier’s performance

6. identify risks in the supply base

7. perform automated purchasing based on preset criteria

Big data lends itself to a variety of applications in the e-procurement market. From e-Information to e-Invoicing, nearly every process within an e-procurement platform can benefit from big data analytics.

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