Sometimes, the ERP solution's e-procurement module may not be as robust as best-of-breed applications. Although ERP systems are focused on financial and human resource management, they cannot be used in all areas. While the more expensive systems may cost millions, they still lack specific procurement functionality and features that are relevant to the buying and sourcing process.
Although many ERP companies are trying to compete in this market, they lack the expertise and resources because their core functionality is financial-based. Many companies turn to procurement companies to integrate their systems using (APIs), application program Interfaces, to exchange relevant data at different points in the procurement cycle. When searching online, you can also opt for EDI orders through https://www.cin7.com/ultimate-guide-to-edi/.
You can enjoy the following benefits by integrating e-procurement:
1. An easy-to-use front end that is accessible from any internet-capable computer
2. Colleague offers structured approval processes that are easy to develop to maximize the business rules.
3. An interface to all contracts, allowing you to monitor and control compliance
4. Budget check during the requisition and Full encumbrance after the purchase order is created
5. You can send electronic purchase orders directly to suppliers
If your current paper-based procurement process is not working for you and Colleague is your system of choice, it's time to look at integrating your ERP with an e-procurement solution. It will pay off!