Selling online is no longer the sole domain of consumer brands. In fact, 68% of B2B buyers now purchase goods online. So using an online, automated platform will put your business in this essential space. When you can customize a workflow that fits your team’s needs, everyone wins.
Some businesses are hesitant to get on board with automation—this may be because they don’t have the available resources, are skeptical of the benefits, or aren’t sure how to implement automation in their organization. Haters gonna hate, but you’re better off if you automate. Here’s how eProcurement is taking over the industry:
Your work, your flowchart. eProcurement, or the B2B requisitioning, ordering, and purchasing of goods and services via the internet, allows each individual team to customize a workflow that suits them. Forget long chains of emails that clog up your inbox. Start utilizing a system that’s built just for you. Check boxes and get approval with solutions that streamline the whole process.
Take more of your time back. When you’re not waiting for emails and creating PO processes from scratch, you’re making your business better. Studies have found that only 39% of the average employee’s workday is spent completing tasks within their actual job description. You can thank busywork like sending emails, searching through endless stacks of documents, and completing minor tasks for wasting valuable time and resources. Statistically, companies lose 20-30% of their annual revenue to inefficiencies like this. Spend more of your time on what matters, and let automation handle the rest.
Accuracy is everything. eProcurement can help your businesses eliminate errors, paperwork, and rework. Get it right the first time by breaking down communication barriers and following a process everyone will benefit from. Time is money, and when you’re spending time correcting errors, you’re wasting it.
Buyers want visibility and control. If your business offers this with automation, you’re one step ahead. When projects go over budget, it’s often not caught until the billing stage, and by then it’s too late to make any changes in the process. According to an Aberdeen Group study, companies that move to electronic procurement reduced off contract spend by 64%. Catch liabilities like this early by using a platform that puts everyone on the same page. Not only will it help build a stronger relationship with your buyers, it will also give your business a sense of credibility that shouldn’t be underestimated.
Show the haters what they’re missing and get started on your eProcurement journey. Our process automation specialists at OnTask are here to help your business succeed.