Friday 6 February 2015

Let’s Introduce “e” in Business

Authored by  Junaid Khan 

Few years ago the word “e” was known as an alphabet, and now a day it is crystal clear that the so called alphabet known as “e” has played a vital role in the transformation of world’s largest companies. Many researches show that “e” has brought a revolution in the success stories of many companies. By placing “e” in any process just like, eProcurement, eCommerece, eBusiness, eMarketing, eTrade, eBilling etc, open magical doorsteps of success and saving and boost the financial values of organization in current era. But the development of eProcurement strategies are not as simple as placing a simple word e in front of old procurement strategies or function performed with in the organizations. For transformation of a conventional procurement practices into eProcurement process, a strategic strategy should be designed in an automated manner which integrate all process, technology and other resources that built an infrastructures of organizations and also strengthen to achieve the overall objective of organizations.

For a strategic transformation of procurement process, mainly three steps are required to be followed.

Step 1: It is very important to understand the concluding objects of initiative.

Step 2: Organization must have a clearly defined strategy to reach the final objective, with certain process to measure that how well every stage succeeds in reaching the required results.

Step 3: It is compulsory to select the right solution according to the need of an organization and better increase proficiency ultimately.

When decision is locked to invest in eProcurement system, the first question which raised is the selection of eProcurement system. In initial stages it is very difficult task for selection committee members to finalize a system. In other scenario it is very easy to finalize a decision if need requirements of organizations are clear.