- Platform
- Services
- Industries
- Company
- Resources
The client is a renowned medical university in the USA, known for its advanced medical research, education programs, and a multi-specialty hospital. The university manages a high volume of purchases ranging from laboratory equipment, medical equipment, and pharameceuticals.
The university aimed to streamline its procurement operations to ensure more transparency, accuracy, and cost-efficiency. The key objective was to replace traditional manual process with a unified and automated process to handle competitive bidding and supplier management.
The traditional, manual procurement operations of the university were based on paper-based systems and spreadsheets. It led to inefficiencies and inconsistencies.
Whether it was supplier communication or documentation, the university faced many hurdles resulting in delays and lack of visibility. Furthermore, compliance-related issues and a lack of audit-readiness were major challenges.
Issuing RFPs (Request for Proposals) and collecting vendor bids required significant time and resources.
Suppliers found it cumbersome to participate in bids due to the lack of digital access and other issues.
Supplier selection remained prone to bias and discrepancies due to the lack of real-time monitoring and audit trails.
Absence of audit trails and proper documentation caused compliance and auditing-related issues.
The university implemented Procure Suite E-Sourcing software to streamline the procurement process. It automates supplier communication and brings centralization in bid management. Procure Suite also increases transparency and offers effective document management with compliance reporting.
The university could reduce the procurement cycle time by 35 percent and increase supplier participation by 40 percent using an E-Sourcing solutions.
– This feature in E-Sourcing software brings all procurement activities under one unified digital platform
– The university can create, publish, track and manage all tenders and RFPs from a single interface
– Role-based access control ensured that only authorized persons could perform specific actions
– It enhances supplier engagement through effective communication
– It sends real-time alerts and notification to suppliers
– It eliminates the chances of miscommunication and errors
– It offers compliance reporting functionality with audit trails
The university could revolutionize the procurement workflow by implementing our solution. Better supplier participation and effective procurement cycle enabled the university to achieve measurable cost savings on big orders. The digital transformation in procurement practices enhanced transparency and compliance.
Procure Suite is a comprehensive solution that includes cloud-powered E-Procurement solutions and strategic sourcing services. The Procure Suite Procurement Solution offers a user-friendly, robust, and advanced E-Sourcing toolkit to companies of any size.
Our Consulting services and flexible deployment options enable companies, irrespective of industry sectors, to improve spend management, automate procurement processes, and achieve excellence.
Our cloud-based, on-demand E-Procurement solutions provide companies with the highest level of data security and confidentiality as they are hosted in a robust and compliant data center.