Considering the ever-growing speed of business development, the integration of eSourcing software into the work of procurement teams can be viewed as a must-have to optimise the rate of achieving their goals and objectives. It allows procurement professionals to use a set of tools aimed at automating most of the procurement process starting from the supplier registration and evaluation up to the contract management and event sourcing. 

Here it is possible to focus on the fact that, with the help of eSourcing software, such goals as more transparency of the processes, the decrease of the total costs, and the optimization of the relationships with the suppliers can be reached due to the use of the centralized software. In today’s supply chain environment that is characterized by rising levels of globalization and shifting emphasis on digital solutions, eSourcing software is valuable because it allows organizations to complete sourcing processes in a significantly shorter amount of time and to make decisions based on clear data. 

If you need a new eSourcing solution, or if you require improvements to the current processes, ScienceSoft offers a set of software consulting services which can help you to create a right plan.

What is offered within eSourcing software: functionality and benefits 

The core features of eSourcing solutions include:The core features of eSourcing solutions include:

• Set up through configurable registration forms that most suppliers use in registering their company as a self-service process, pre-screening of suppliers against compliance regulations, and supplier accreditation processes.
• Electronic collaboration to set up the product or service requirements and collectively determine which suppliers are most suitable in conjuction with involved stakeholders, forms, automated evaluation and comparison of the responses of suppliers, analytical templates.
• Management of eActions with invention of eAuction established in templates, nomination criteria including weights of cost, quality, capacity with other parameters and bidding conditions, monitoring of real eAuction and sending of notice of updating to the participants.
• Management of contracts with regard to the central database of contracts, contracts templates, automated in-house contract flow for approval, and notification on the expiration of contracts. It is possible to control the availability of contract information depending on the user’s position.
• Supplier data management with supplier profiles storage, supplier product or service catalogs creation, supplier search engine to quickly find necessary information and supplier’s self-service functions to edit data.
• Monitoring of the supplier’s performance and comparison to key performance indicators developed previously.

When your company has adopted eSourcing software, it will be able to gain improved cycle times on sourcing, get lower prices for the products and services that are being sourced and decrease the level of supplier compliance risks.

Top eSourcing software products

Here are below some valuable eSourcing softwares with pricing

Microsoft Dynamics 365 Supply Chain Management

 There is an advantage of using Microsoft Dynamics 365 Supply Chain Management (Procurement & Sourcing Module). 

 The product consolidates all supplier information, allows to set up approval processes for such requests as new supplier registration, etc. , manages and assesses RFQs and bids, and allows creating the lists of pre-approved suppliers for the specific products or services. 

 Pricing: starting from $180 per user/month. 

 Oracle Supply Chain Management

 It has features of tools for working cooperatively on the identification of contracting needs with suppliers, a two by two matrix for supplier offers’ comparison, and account dashboards for tracking of sourcing tasks and rightful sourcing metrics, a central database of contracts and expired contract notification. 

Pricing: which starts from $400 per user per month. 

SAP Ariba 

SAP Ariba offered Strategic Sourcing Suite for customers. Some of the things it provides includes; a self service approval process for sourcing projects, ease in the creation and management of the RFx event through easy to use dashboards, central bid management, awards and supplier optimization through bid analysis and management of supplier performance through the use of scorecards and qualification matrixes. 

Acquisitions of goods and services

Acquisitions of goods and services by institutional units occur when they become the new owners of the goods or when the delivery of services to them is completed. Acquire goods and services that will benefit the firm and its clients in the most effective and lowest cost. 

If you can acknowledge the need to augment your supplier relations and sourcing choices with eSourcing software, the next move is to decide on the proper product. Trusted consulting team is prepared for the important step: to choose the eSourcing software, which would effectively correspond to your strategic sourcing goals and easily interface with existing sourcing processes, or develop and organize the implementation of the custom solution. We welcome you to contact us to talk about your project. 

Source the best products and services cost-efficiently

If you feel the requirement to extend your supplier relations and acquisition choices, with the help of the eSourcing software, the following step is to determine the proper product. Our consulting team is prepared to identify a commercial eSourcing tool that would meet you strategic sourcing requirements, supplement existing sourcing processes or build and implement an efficient custom eSourcing solution. Of course, you are welcome to contact us directly and tell us more about your project.