Tuesday, 19 September 2017

Driving the Way through E- Procurement Solution

E -Procurement is the main key part to decide the achievement of a specific business. Various online organizations give a selection of other options to unravel issues identified with dealing with time, acquisition costs, basic leadership, and hazard administration through E-procurement locales. These arrangements help in improving efficiency and streamlining the acquirements process.
People might have the capacity to meet business objectives through customized arrangements relying upon business field and acquiring needs. Such arrangements empower associations in receiving rewards of cost-control and cost following, making portfolios as indicated by arranging sorts and accomplish quicker request handling. E-procurement arrangements give online robotization, adjusting associations to driving measures of e-business, expanding perceivability to corporate consumption and killing double request section prerequisites.
Different services of E-procurement arrangements incorporate customized online list, altered marking down structure, punch out inventory reconciliation, appropriate application joining and level document index information bolster. These arrangements by and large manage areas looking for data with respect to current frameworks, hierarchical procedures, business condition and profile. They may likewise help in actualizing these plans and measures required to guarantee achievement and reserve funds. E-procurement helps in changing over all manual paper - based acquirement system of every one of these perspectives into electronic technique.
E-procurement arrangements can be gotten through different online merchants that give preparing about utilization of different highlights and their points of interest. This causes, organizations to receive most extreme rewards of innovation and limit different imperatives of benefit picks up. E-procurement arrangements likewise enable organizations to dissect their E-procurement, development and spare a lot of printed material to lessen costs.
Online data may enable the client to pick up an unmistakable understanding and learning about E-procurement, including the reasonableness of its utilization as per business purpose. In any case, it is prescribed that organizations break down their needs of such an answer before obtaining it. If not required, it could bring about lost income because of interest in an innovation that was not required.
E-procurement work processes can be characterized, implemented and institutionalized crosswise over whole divisions, and numerous acquirement and production network administration has formed already embraced by a colleague be mechanized. For instance, computerizing buy requests and solicitations electronically decrease the requirement for manual printed material, and the colleague who manages this printed material is allowed to chip away at different assignments.
Also, E-procurement is a more proficient approach to oversee contracts online as it can be utilized to ensure that the greater part of your association's agreements conform to applicable strategies. Instruments, for example, our own particular Tender Manager ensures that the whole offering process is EU consistent, from online reaction assessment to contract grant. Institutionalizing your procedures through E-procurement strategies will likewise eliminate avoidable authoritative mistakes which can happen with paper-based techniques.
lotusprocure.in shows point by point data on E-Procurement, E-Procurement Advantages, E-Procurement Services and E-Tendering visit lotusprocure.in.

Sunday, 17 September 2017

E-Procurement Implementation – Its Benefits and Difficulties

E-Procurement can mean distinctive things to various individuals, it differs in scope, and can be condensed as an interface between organizations for the deal/buy of products and enterprises through an online stage. Most ERP systems now have the capacity to assemble or make e-acquirement arrangements, yet there are additionally countless that can be purchased independently however, it will clearly require greater investment, exertion and budgetary assets outline and construct and to permit interface with your key monetary system.
The extent of a system can differ impressively, yet could incorporate a few or the many of the elements:
  •  e-Tendering – permitting the electronic offering or demands according to cites rivalries to occur.
  • e-Auctioning – to guarantee greatest rivalry from your production network.
  • Merchant or contract Management – the instruments to enable you to deal with your providers and stay up to date
  •   Inventory management – it can be utilized to guarantee your stock levels are as they ought to be and permit programmed to recharge directly from your providers when levels fall beneath pre-decided levels.
  •  Purchase Order processing – to either work with or supplant yours buy requesting, ordinarily with a work process to take into account arrange endorsements on the web.
  • e-Invoicing – this is one of the key components and will bring about diminishing in exchange costs related to getting and paying of solicitations physically.
  • e-Payment – the capacity of paying providers all the more effective and quicker, which can regularly empower you to arrange a markdown with your production network in return for them accepting instalment sooner than they generally would.
The main points of interest are that this will give you more control over yours spend, permits you inside purchaser’s access to every single potential provider in one place and brings various efficiencies into your store network at different levels. The capacity to deal with your providers through the system and to guarantee they were paid in great time will likewise enable your association with your suppler to chain.
There may be some difficulties with any of the best systems. There might be huge IT assets required inside, or a vast spending plan to execute such a system. This would especially be the situation in the event that you are utilizing an independent system, instead of a current module accessible in your ERP system. There may likewise be specialized constraints on yours or your provider side. Providers would need to put appropriate assets in place to empower a fruitful result of any e-obtainment system. The best systems are the straightforward ones for providers to use, as they will prompt a greater amount of your storage network becoming tied up with the undertaking.
In the event that you are considering utilizing an e-tendering system, you should do noteworthy research to ensure you get the correct answer for you. So, doing research and gather much more important information about the Electronic Tendering System, E-Tendering Invoice visit our sit Lotusprocure.in.     

Friday, 4 August 2017

How Does an E-tendering Bidder System Work?

E-tendering bidder system is a solution to provide a platform for e-bidding. E-bidding is the process of digital bidding using the internet and all other digital devices and medium.
Lotusprocure.in e-tendering bidder system has different modules and components. These modules are the site administrator section, Buyer’s section (Employer), bidder’s section (All interested contractor or supplier) and a public view section.
Role in each module is decided for a component for certain extent. Site Administrator can register buyer or bidder and has an own password but can’t access bidding process. A buyer can publish or download or award a tender and to complete this process buyer needs a password. But a buyer can’t access to bidders page. A bidder can submit or modify a submitted bid and needs a password to accomplish these tasks. A bidder can’t access buyers page or not able to delete a bid. The general viewer can only view tenders but not able to access the any of the parts of the bidding process. General viewers don’t require any password to check tenders on the website.

Each of the modules facilitates certain tasks. In the buyer’s section buyer can offer tender notice and offer bid information to the supplier. Here, the all amendments are accomplished by the buyer. Once the Tender notice has generated it is viewable in bidder section. In Bidder section, now the bidder can bid on that tender and all the information is accessible to the bidder which is provided by the buyer. If Bidder needs to change his bid, he can modify, substitute or withdraw the bid any time before the period of bidding process ends. After the completion of a bidding process, bid evaluation is started. In bid evaluation process, the acquired bid is evaluated to award the tender. Once the winning bid is evaluated, buyer generates a notice to the successful bidder.
There are a few advantages are offered by e-tendering bidder system to a buyer. The same benefits are provided by Lotusprocure.in e-tendering bidder system. Lotusprocure.in e-Tendering Contract electronic is included in that.
  • Buyers receive competitive prices
  • Global reach i.e. Buyers can reach suppliers worldwide
  • Bid comparison is made easy for buyer
  • Efficient process, Time-saving in comparison to usual negotiations
  • Effective Cost saving solution due to fewer person hours, less paperwork, and fewer travel costs
  • Pool of market knowledge, Suppliers gain more knowledge of the market
  • All bidders or contractor have access to the same information and the process is clearly defined
  • Secure Bidding System
  • Suppliers can react directly to bids from competitors
The information available on Lotusprocure.in site is information about e-procurement, tenders and awarded contracts. This information is made available to the general audience. If anyone has queries regarding e-tendering bidder system, a FAQ section available to learn about the process deeply.

Saturday, 22 July 2017

Why Should Rely On Lotus Procure RFx Management?

Today’s e-RFx tools like the Lotus Procure provide the sourcing professional with a bunch of benefits. The major benefits of an RFx management include:

Efficiency through reducing sourcing cycle time 

In a conventional tendering process, information gathering and analysis is very daunting and time-consuming process. It takes a couple of months but due to RFX, it becomes easier and much more reduced in time. Now it takes only a couple of weeks. The additional expense and time are disappearing which is associated with distribution and collection of data document via overnight shippers or USPS. lotusprocure.in RFX ,RFP or RFQ allow sharing document within the organization by the sourcing team. Comparison of the supplier responses and at the same time evaluating multiple stakeholders’ responses saves so much of time and helps to make a faster decision.

Standardization collaboration makes Accuracy and consistency in the process
To maximize sourcing process effectiveness, the tools which help the whole process is a centralized repository with document library management, RFX work process management, and reusable templates formats. This makes a process more standardized that handle those tools is the base for reducing cycle time, process improvement, and global acquiescence. Digital RFx ensures stability within the business from person-to-person, from project-to-project, business-unit-to-business unit and encourages an environment of trust for suppliers.

Web based RFx has very significant role in the communication of all parties like team members, suppliers, and stakeholders so that they can involve in collaboration through a single tool. It enables them to share information, to involve in Q/A rounds, and receiving answers in response. It is the perfect tool for a centralized place for transferring knowledge between people, collaborating organization and projects.

The RFX module also comes handy with internal and external processes. It helps them to collaborate, collect internal demands, and forecast demand information. One can utilize them to lead internal surveys on current provider execution as a reason for inward provider score-carding. An electronic-RFx can even utilize to gather feedback on the procurement group’s presentation from internal stakeholders or to track procurement acquisition and resources. A decent e-RFx device is adaptable. Recognize data wasteful aspects and be innovative.

Knowledge Transfer

e-RFx additionally supports the center-led procurement process where procurement professionals in a center of fineness and continue the organization’s general supply chain and commodity sourcing strategies in support of the individual purchasing groups in each distinct purchasing organization. Also, since sourcing data does not physically live away, all past sourcing project data is accessible to the Sourcing Team, aside from when an associate leaves the organization.

www.lotusprocure.in offers a platform for RFX management which includes templates, centralized repository, common-sense formatting, data exportation, and security and access control and workflow capability.

Tuesday, 27 June 2017

Open source procurement and Automation

Every organization required track purchase goods and services. Centralized software solutions have a high up-front licensing fee, expensive implementations, and the level of organizational training necessary to get the full value out of an enterprise-class procurement solution and for that reason, small businesses reject using.
Why do organizations need to automate purchasing?
Purchasing of the goods and services are a very time-consuming process in an organization. The manual process often leads to the mistakes and delays. Many small and midsize businesses (SMBs) can't justify the cost of software. End-to-end procurement process consists of identification of need, an issue of RFP, response of supplier quote, turned into a contract, and purchase order. E-procurementsolutions automate the whole process and save the time and make it hassle free. It also saves the cost if implemented correctly. Reduce the complexity of transactions. Save organization or company from corporate abuse and fraud. Electronic Tendering System improves operating efficiency. The entire procure-to-pay process is automated by e-procurement solutions. It is clearly proved that automation of purchasing in a business organization helps to make the process effective and efficient.
What is open source procurement?
Small and midsize businesses are also required to make their procurement process easy and efficient to reduce expenditure. But also, the cost of enterprise software is very high and they are discouraged not to use these kinds of solutions. Open source procurement helps these businesses to adopt a solution that does not cost them high. Open source procurement solutions offer a simple and quick way to improve their purchasing processes.
What will an e-procurement solutions consist of in open source procurement?
Most of the e-procurement solutions are able to provide support to specific procurement process in an organization. It includes
             Supplier management
             Product catalog
             Purchase order management
             E-tendering functionalities
It provides
             Purchase requests
             Document management
             Asset management features
Digitization and the Internet have changed many things and so as the purchasing of goods and services in a business as well. Every business required to grow to cope up with the big competition but also required to cut the cost. Electronic Tendering System and e-auctions have been taken place of the manual one and so as the organization adopted the web. Open source procurement leverages the small organizations to keep finances in control. These solutions and systems are fully reliable and efficient. Implementation of emerging technology is always the best way to keep up to date with the world.