In the past, procurement has been a time-consuming and manual process. You had to go out and find vendors that you were interested in bidding on projects, research their prices, review their qualifications, call them up for quotes. Modern software is here to change all of this!
With digital sourcing software (like ours), automating your purchasing process has never been easier.
6 Ways That Modern Software Changes Digital Procurement
1. Automate Your Sourcing Process
Automate your sourcing process by using technology to manage the entire purchasing cycle. Using digital procurement software, you can automate how you search for vendors, collect quotes, and manage the process. Plus, with powerful artificial intelligence, you can save money instead of hiring many staff members to do the job of one powerful software.
2. Cybersecurity & Data Protection
In the past, you may have been using spreadsheets to manage your data. While it’s easy to share files with a simple email attachment or hard copy printout, this also makes them vulnerable to fraud and hacking. With digital procurement software like ours, we’ve made security a priority from top-to-bottom in how our platform is built and maintained. Your information will be safe as well as cost-efficient for your company!
3. Cloud-based Data Centralization
One of the biggest advantages of digital sourcing is that your data lives in the cloud. This means that you can access it from anywhere, at any time, on any device. No more worrying about losing files or not having the most recent version – everything is always up-to-date and accessible!
4. Blockchain For Vendor Management
Many companies are turning to blockchain technology because of its security features. Blockchain creates a public, unchangeable ledger that makes it easy for you and your vendors to track the history of transactions while ensuring accuracy and transparency. This is perfect if you’re working with multiple teams or third parties who don’t work directly in-house. Blockchain is now becoming a must-have for digital sourcing in the upcoming years.
5. Mobile-friendly & App Integration
What good is strategic sourcing if it doesn’t work on the go? Being mobile-friendly is the future of digital software, which means that you’ll be able to access your data from anywhere. Add-on apps are also becoming more popular because they work in tandem with our platform by seamlessly connecting them together for one exceptional user experience. With Procoto, you can access your data anywhere using our mobile-friendly platform. You can also integrate apps like Sharepoint to make collaborating with other people in your organization even easier!
6. Data Analytics
The biggest benefit of digital procurement software is that it comes with data analytics built-in. This means that you can see where your money is going, how much time and resources are being used throughout the entire process, and what actions need to be taken in order for more savings on future projects! With data analytics, your business can run smoother and be more efficient than ever before with data-driven decision-making.
Modern Sourcing Software is Transforming Procurement
If you feel like your procurement process is time-consuming and inefficient, it’s time to change that – and we can help! Procoto provides digital sourcing software to automate the entire sourcing workflow for small businesses and large enterprises alike! With powerful features such as cloud storage, data analytics, vendor management systems, mobile-friendly and app integration platforms… the list goes on!
If you’re looking to change the way your business procures goods and services, then you should try Procoto! Our digital sourcing software AI automated workflow that’s easy to use and can save your company time and money. Start your free trial today and see why Procoto is the most innovative digital procurement software out there!