Digital procurement systems are software applications that automate the procurement process. They can help organizations to save time and money, improve efficiency, and make better decisions. Digital procurement systems typically include features such as e-sourcing, e-procurement, contract management, compliance management, and analytics.
These features can help organizations to find the best suppliers, manage their procurement process more effectively, and comply with regulations. Digital procurement systems can be implemented on-premises or in the cloud, and they are a valuable tool for organizations of all sizes.
Digital Procurement Systems Sourcing Intelligence Highlights
- The global digital procurement systems category is moderately consolidated, because of the presence of a few large and minor companies operating both domestically and internationally. To strengthen their customer base presence, these businesses engage in collaborations, mergers and acquisitions, and new product releases.
- The bargaining power of suppliers in this category is high due to a few factors. First, there are only a few major players in the market, giving suppliers more power in negotiations. Second, switching systems are costly and disruptive, making buyers less likely to switch. Third, suppliers have a deep understanding of the market and buyers’ needs. Fourth, suppliers are constantly innovating, making it difficult for buyers to keep up.
- License, support, implementation, and maintenance form the most significant cost component in providing digital procurement systems. The overall cost also depends on training, the software solution implemented, and the size of the database.
- Vendors in this category offer services from system selection & implementation, data analytics, storage, system upgrades, and others
Browse Report @ https://www.grandviewresearch.com/pipeline/digital-procurement-systems-procurement-intelligence-report
Pipeline has a team of dedicated, experienced analysts with domain-specific expertise and extensive economic and business training that allows them to solve key client questions. They’re guided by highly experienced team managers and supported by skilled project managers.
Add-on Services
Should Cost Analysis
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
Rate Benchmarking
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
Salary Benchmarking
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
Supplier Newsletter
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.
