E-procurement technologies have become an important and increasingly reliable source for exchange of electronic data. The data transfer in e-procurement take place through internet or many other networking devices and systems. Taking into account the vast amount of traffic that crowds the whole of internet, eprocurement can be used for increasing the amount of revenue obtained and helps in providing transparency to the system of cost management. At an age where e-procurement has taken whole of the business world in its clutch, one recent introduction of SmartBuy has maximized the benefits of e procurement.
SmartBuy is a brilliant electronic procurement solution that makes sourcing and purchasing more quick, secure, and efficient. The system is designed with in-depth knowledge of business transactions and the best of technology to maximize the efficiencies of business transactions and reap higher profit margins. Suitable for both large and small companies, it helps organizations understand their spend pattern, streamline order management process, facilitate payment cycles, and improve productivity.
Key Features of SmartBuy
SmartBuy is an electronic means of handling procurement that makes the system more powerful with its extraordinary business intelligence. Some of the key product features are listed below:
- It is an extensive electronic market for business transactions.
- A common place for buyers and sellers to integrate and communicate.
- A common repository for businesses to transact safely and efficiently.
Benefits of SmartBuy
SmartBuy is a comprehensive electronic procurement solution that offers a host of benefits to both buyers and sellers. The entire business economy is adapting to the wonderful procurement experience offered by this inventive technological system. Some of the key advantages of SmartBuy are as follows:
- Tremendous cost reduction in the transaction and administration costs.
- Increased transparency and efficiency.
- Reduce procurement costs.
- High savings on purchasing.
- Streamline order management process.
- Quicker and faster purchasing.
- Access to wider and deeper supplier network.
- Reduced transaction cycles.
- Intelligent analysis and reporting.
- Better management of supply bases.
- Build collaborative supplier relationships