The global pandemic, which has caused disruptions across sectors, has led organisations to undergo technological transformations to overcome new challenges. One of these transformations is the strategy to shift to digital procurement. 

Digital procurement is not new, but it has been quickly adopted by several organisations due to the effects of COVID-19 creating situations where paper-based processes hindered them from functioning effectively. The use of technology to automate processes and lessen the risk of disruptions has become necessary in the fast-moving world of procurement. 

Using technology to speed up the process of procurement can greatly benefit procurement professionals, who are often bogged down by the necessary paperwork.  

With the time and effort spent manually repeating activities greatly reduced thanks to the integration of software, the organisation can then turn their attention to more pressing issues.  

Digitizing one’s procurement process also helps reduce human error, a risk that is more pronounced when an organisation is using time-consuming record-keeping practices.  

Aside from this, the successful use of technology can also increase ROI as it can bring significant cost reductions. An organisation’s procurement process can be streamlined on a digital platform focused on accuracy, lessening potential errors that can be costly to fix. 

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Putting procurement on a digital platform provides professionals accurate visibility of the process, giving them the insight that will help them make better decisions for their organisation. This allows them to establish a roadmap that they can greatly gain from and establish actionable plans against fluctuating demands. 

Another way organisations can benefit from digital procurement is that it can help optimise their supply chain processes by boosting transparency and reducing supplier risk.  

By using such platforms, organisations can avoid potential risks and effectively identify the right suppliers to provide the goods. 

The benefits of digital procurement are something that procurement professionals should be keen to take advantage of. And as the world increasingly heads toward a more digital-driven society, digital procurement is just one of the ways that organisations can utilise to improve their digital transformation.

Eliza Sayon

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Eliza is a content producer and editor at Public Spectrum. She is an experienced writer on topics related to the government and to the public, as well as stories that uplift and improve the community.

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