8 Ways eProcurement Software Optimizes Processes, Budgets and Brand
The ultimate goal of any business is to offer superior products and services while performing exemplary customer service. However, to achieve this goal, companies need to implement organizational services that help their employees not only succeed, but feel appreciated by the brand they represent. eProcurement software benefits companies in several ways. Finelink eProcurement software will help your company optimize processes, budgets and help your employees succeed. eProcurement, a software as a service (SaaS) built to centralize all employee products into one online storefront. From business cards to company merchandise, materials are easily accessible and fulfilled through the same interface. An online storefront is highly customizable to the needs of each company and reduces spending through inventory management. eProcurement software can optimize your company’s processes, budgets, and brand.
eProcurement Software Streamlines Processes
1. Timeline Management
When collaborating with peers, it can be hard to meet deadlines based on varying work styles. Furthermore, traditional methods include back-and-forth emailing and delayed response that prevent a company from maximizing its time. By implementing eProcurement software into your company’s process and tech stack, employees can edit and add comments to branding materials from one single location, removing work silos between departments and improving speed to market.
2. Rapid Delivery
The speed at which a product is delivered is crucial in establishing user loyalty. A study found that 42% of customers would never order from a company again after a prolonged delivery wait time. With a poor storefront system, this same frustration can occur with your employees. Delivery times are easily reduced with eProcurement software by combining payment and shipping details into one interface, a feature that doesn’t exist with free alternatives.
3. Single Sign-On
Do you run into issues with your employees forgetting their passwords? If so, you’re not alone. It’s a problem that can lead to up to half of all IT help desk cases. This inconvenience is removed through a single sign-on authenticator for all eProcurement software users, helping both your employees and the IT department focus on more pressing issues.
eProcurement Software Saves Money
Budgeting Improvements
While budgeting is highly important, 64% of small businesses note that they are unable to determine printing expenses and quantities. You may be spending too much money and time working with printers who don’t deliver on time. You may also be wasting materials that are no longer up-to-date or in line with marketing campaigns. Or you simply might be printing too much or not enough, and essentially throwing dollars away. An eProcurement software, with digital asset management, improves cost control costs. With the right integrations for payment processing, the tool even helps avoid issues like paying the same invoice twice.
A Consolidated Company Storefront
There are many benefits to consolidating your company’s inventory, ordering channel, event schedule, and fulfillment services into a single company storefront. Through a centralized inventory management platform, over ordering on minimally used items is eliminated. Additionally, since all employees update branding materials through a single interface, the frequency of rush orders is minimized.
eProcurement Software Improves Marketing and Employee Satisfaction
Brand Consistency
Above all else, eProcurement software ensures your branding materials are consistent. This is highly important as consistent brands can be up to 20% more valuable than inconsistent ones. Through eProcurement software, stakeholders can create and edit templates while employees are granted access and the ability to personalize based on their user profile.
Company Tailored Features
To ensure your eProcurement tool incorporates your unique business processes and products, it is essential to develop an interface that is customizable and flexible. With only 36% of enterprise software features being regularly used, determining features that fit your unique business processes is a must. With eProcurement software and the removal of clunky or confusing components, buying and delivering products is more efficient.
Employee Satisfaction
The optimization of internal products is not complete without employee satisfaction. A study found that, “…79 percent of people who quit their jobs cite ‘lack of appreciation’ as their reason for leaving.” As an employer, creating a well-oiled system for your employees to succeed is a must because it shows that you appreciate their time. Corporate branded eProcurement systems enhance workplace culture while improving the product purchasing experience.
The Fineline eProcurement Software Benefits Companies
Fineline knows that eProcurement software benefits companies. At Fineline Printing Group, we are committed to offering a highly customizable and cost-effective eProcurement software called Finelink. eProcurement software helps companies optimize their processes and budget. Fineline has implemented and integrated our Finelink software for companies including Cummins, Fifth Third Bank, and American Senior Communities. Through our three-phase implementation process, clients can expect to see their custom eProcurement software ready within four to six weeks. Schedule a demo today to see how Finelink can benefit your company. Request access to our eProcurement software eBook for more information on Finelink features.
About the Author
This blog was written in partnership with the Old National Bank Center for Business Excellence at Butler University. Fineline proudly supports internships and collaborated with Student Analyst Max Wing to generate eProcurement software awareness. Max is a rising senior at Butler, studying Strategic Communication with a minor in Creative Media and Entertainment. He is currently the Butler University Speaker’s Lab Manager for the 2021-2022 school year and looks forward to pursuing a career in public relations.