As organizations seek to drive out cost, control spend and create competitive advantage, procurement is quickly evolving. And, in recent years, with the advent of the internet and big data, the pace has accelerated. With first generation solutions, businesses took the ways they had transacted for centuries and automated them. More recently we have seen second and third generation solutions entering the market. cloudBuy is a third generation solution – and we are actively building the next generation now.
Generally, automation begins with sourcing activity and then moves on to the cataloging of goods.The challenge here is keeping prices and products up to date, and ensuring end users have easy-to-use technology that facilitates the process. And, too often, users continue to ‘pick up the phone’ and avoid raising purchase orders if the process is onerous.
This partial implementation of eProcurement is a key reason why organizations fail to make the expected savings from the transformational projects they have undertaken at considerable expense.
The second generation is now here, with cloud-based solutions offering full integration with item-level sourcing systems and supplier back end-systems – to provide an accurately priced eCommerce environment from end-to-end.
Third generation solutions comprise integrated sourcing, purchasing, logistics and payment systems. These support item-level information, and complex pricing and charging, to fully automate the end-to-end process
The full benefits of eProcurement can only be captured with cloudBuy – a true third generation that integrates sourcing, purchasing, logistics and payments.
The next generation of procurement systems will be fully integrated into all operations – and, based on content management technology to create embedded systems fully integrated with business processes.
cloudBuy is actively creating the next generation solutions.