8 Digital Best Practices for Procurement Professionals
Hi! My name is Ben.
As a procurement professional, I understand that there are always new digital best practices to follow and it can be difficult to keep up with the latest and greatest practices. Let’s go over a few digital best practices to follow for procurement professionals.
1. Look for Paperless Opportunities
A good place to start to look for paperless opportunities is to map document touch-points to determine which procurement tasks would most benefit from digital transactions.
2. Identify Pain Points
Productivity demands and tight deadlines are a major source of employee stress but by removing paperwork from day-to-day tasks, your team can spend more time on value-added activities like driving cost savings, improving service, and mitigating supply chain risks.
3. Enhance Vendor Interactions
Being able to work closely with vendors and internal customers while negotiating prices, executing contracts, and managing day-to-day supplier interactions requires increasingly greater levels of control but using electronic signature technology not only enables you to respond quickly during crucial negotiations but also gives you real-time visibility into document execution.
4. Promote Compliance
Since chief procurement officers face an increasingly complex landscape dominated by legal and regulatory issues that can impact a company’s bottom line, as well as its brand reputation, electronic signature technology can help you improve visibility into processes and assure compliance with your corporate purchasing policies.
5. Embrace Mobile Technology and Workflows
Since a mobile-enabled workflow is essential to facilitating on-the-go agility, your procurement leaders need to equip their local and global teams with end-to-end mobile capabilities to help boost productivity and responsiveness.
6. Understand Standards and Regulations
Vendors and customers today are located around the world which creates challenges in document execution given strict national and international security laws and standards. This makes it very important to be certain that your signature processes are legally binding and comply with geographic standards and regulations.
7. Collaborate with IT, Finance, and Legal Teams
Discussing workflows with your legal teams is an excellent way to assess software solution compatibility and to guarantee secure transmission of confidential documents.
8. Learn from Best Practices
As you look to achieve digital efficiencies in your procurement processes, look for ways to mimic consumer services best practices in your vendor transactions to be able to offer clients a better experience.
Best digital practices for procurement professionals are constantly changing and it’s important to stay up to date with these changes to be able to offer clients the best experience possible.
If you want to learn more about the best digital practices for procurement professionals, click the link below for more information.
