Strategic Sourcing is quickly gaining momentum among mid-market organizations. ProcurePort has tapped into this momentum driven market by providing companies with easy-to-use, on-demand sourcing services which provide substantial cost savings with minimal investment. According to Purchasing Magazine’s recent Benchmark Survey on E-sourcing Strategy, the use of cloud hosted strategic sourcing software rose by 24 percent in the past year. The survey also indicated that this market is poised for continued growth as respondents stated that they plan to use e-sourcing for a majority of their indirect spend.
According to the Institute for Supply Management™ and Forrester Research, 85 percent of companies said they have made progress toward incorporating Strategic Sourcing in their purchasing process. Additionally, 46 percent said they use company-wide e-procurement tools. Utilizing e-sourcing, ProcurePort customers have saved from 8 percent to 32 percent on the goods, materials and services they purchase from global suppliers and increased process efficiency.
An article in Industry Week further supports these trends. It notes that cloud hosted e-sourcing models that offer usage-based pricing are gaining popularity. These tools deliver deep functionality without expensive or time-consuming integration or implementation cycles. ProcurePort’s services benefit mid-market clients that operate in a wide range of industries. Mid-market industries include manufacturing, energy, government, construction, agriculture, education, electronics, telecom, healthcare, retail and technology. ProcurePort’s Web-based Software-as-a-Service (SAAS) software for reverse auctions, spend analysis and Electronic Request-for-Quote (e-RFQ) has positioned the company to emerge as a leader in helping organizations enhance their strategic sourcing initiatives.
Strategic Sourcing Software to Automate Procurement
"In today’s competitive marketplace, every company’s survival depends on tightly managed resources and operating efficiency. ProcurePort provides a viable answer to this challenge," explains Jack Smith, ProcurePort Director. "Our procurement specialists can provide reverse auction services and spend analysis services that facilitate online negotiations. Our customers can choose to manage the entire process themselves using ProcurePort's cloud hosted reverse auction software and spend analysis software or allow our expert team to manage the process on their behalf."
ProcurePort’s Web-based strategic sourcing software does not require expensive and time-consuming setup or integration. Many of ProcurePort’s customers realize a return on their investment immediately after their first e-sourcing event. "This on-demand model is much more affordable than other alternatives. It allows mid-sized businesses to benefit from the same online procurement technology that was previously only available to large corporations," explains Smith.
Since inception, the company has expanded its service set from discrete online auction tools to complete on-demand e-sourcing solutions including providing sourcing and spend analysis services. In 2015, ProcurePort added a new facet to its service line by introducing its online marketplace solution that can be customized to launch e-marketplaces in vertical specific B to B and B to C markets.
The company’s primary focus in the next 18 months will be to continue providing the middle market with comprehensive and easy-to-use e-sourcing software. Along with its global sourcing initiatives, the company will also focus on developing custom procurement applications to meet specific industry requirements. Early in 2016, ProcurePort will unveil a new version of its e-Sourcing suite that will include a PO and Invoice module which will enable the end-to-end cycle of Source-to-pay for our customers.
ProcurePort is a leader in providing on-demand e-sourcing solutions (Reverse auction software / RFP Software / Spend analysis software) and services (Strategic Sourcing Services-Reverse auction services-Spend analysis services) for the middle market as well as global 1000 organizations. Operating in a wide range of industries from manufacturing to government, ProcurePort’s clients benefit from both the technology and purchasing expertise that can help them significantly reduce costs and increase procurement efficiency. ProcurePort’s comprehensive e-Sourcing software suite uses a hosted, Web-based interface to facilitate online negotiations without time-consuming or expensive technology integration. The company’s clients enjoy full access to sourcing, collaboration and analytical tools from any computer with an Internet connection. ProcurePort’s affordability enables mid-market companies to compete with larger organizations and reach new levels of success in spend management.
For more information, visit ProcurePort.com or call 1-866-643-8153.