Table of Contents

Table of Contents

Significance of Working Capital Management for MSMEs
How SCF is better than other financing options
Why SCF is synonymous to easy financing
How SCF is Transforming MSMEs in B2B Industries
Make your business credit ready through SCF

Why E-procurement Is Essential For Your Business

August 2, 2023
min read

When the Prime Minister of Ukraine recently announced how their Government saved $900 million budget funds after switching to e-procurement, we could only imagine the immense scope and advantages of having a completely transparent, technologically driven and a smart system to fulfill a business’s procurement needs. Every business, however small or working in whichever domain, has a list of materials that need to be bought in order to complete their sale cycle successfully. If you are a business looking to save tons of time, bucketloads of money and exponentially increasing manual labor efficiency, you have landed on the right article. Allow us to explain how e-procurement is actually easier than what you are currently using and why your business should adopt it as soon as possible!

Transparency Through Technology

One of the best parts of e-procurement is the extensive use of technology in the process.  Technology has always promoted transparency and convenience allowing for minimal human intervention and errors.  Bizongo was initially started with the idea of promoting e-procurement for all kinds of businesses. For any and all packaging related procurement, we built a brilliant e-procurement solution: Procure Live.

For stand-alone businesses, Procure Live is a great way to increase overall efficiency and decrease unnecessary manual efforts put into coordinating with different vendors. To give you a quick understanding on how e-procurement solutions can elevate your business operations, let’s understand the features an e-procurement solution will usually offer. For easy explanation, let’s take Procure Live as an example. Some of the features of Procure Live are:

  • Once your list of required packaging products have been finalized, your business gets an exclusive Procure Live account
  • This account is customized for your business and is free. (You can request a demo here.
  • Your product list is cataloged for your account, ready for procurement- from any time and anywhere.
  • So, the next time you need to replenish your inventory, simply Login, Click and Enter the desired quantity from the cataloged products.

All your procurement team members can be easily added to track and view all procurement operations. Also, you can view the time, date, quantity, and various other details related to procurement on the platform itself. With this transparency, a lot of unwanted, unethical procurement acts are reasonably curbed. Not only this, but it also helps your business use data to analyze and increase operational efficiency.

Cashless Comfort

E-procurement is incomplete if there is no good quality online payment system in place. In any e-procurement system, it is extremely important for a convenient and comfortable approach when it comes to payments. 40% of online shoppers feel comfortable procuring from systems that offer multiple modes of payment. Multiple payment options are a great way to maintain records and transparency as well. Also, multiple/faster modes of payments help you experience:

  • A smooth checkout experience
  • Use different modes of payments in case of emergencies.
Instamojo for Payments

Instamojo is one such leading company providing ease in e-payments. For a lot of Bizongo consumers who are new to e-procurement and cashless payments, Instamojo helps in easing the payment process tenfolds. All we have to do is send a payment link to the buyer, who will then confirm the payment accordingly.

Data-Driven Deliveries

Tracking and delivering products without any hassles is one of the biggest advantages of e-procurement! Once you have placed an order online and made its payment, the third stage of transparency is in deliveries. What if a shipping partner took away all the headaches of ensuring your product reaches the destination without damage, on time while using a superior online tracking framework? Vamaship is your go-to platform for all your shipping worries. They don’t just ship across the country but also help you ship to more than 200 offshore locations.

Vamaship Logistigs Aggregator

With Vamaship, your company will receive:

  • An integrated shipment report with in-depth analytics
  • Real-time tracking across the widest geographical coverage
  • Automated and optimized shipping routes for your business with best shipping prices

Switching your business operations to e-procurement is quite important in this era of automation. With so many easy-to-use tools at your disposal, it has become easier for businesses to now operate at their maximum capacity with minimum, optimized and transparent efforts.

Want to smoothly procure your packaging and material handling division? Get started here!

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