Do more with less has been the mantra for years, but it’s taken on new meaning for procurement teams these days. They’re now dealing with significant budget cutbacks in many areas and a shift in the approach to spending. Every line item is under the microscope these days as procurement and finance teams are looking to squeeze out savings and maintain strict cost control.
For both small colleges and large university systems, the need for streamlined, cost-effective procurement is greater than ever. Online procurement software and eProcurement solutions have become indispensable for institutions that want to centralize and manage spend more strategically.
A cloud-based platform helps institutions manage the purchasing lifecycle and is increasingly becoming the standard for most colleges and universities. Key features include:
Because the software is cloud-based, it’s accessible from anywhere, making it especially useful for decentralized institutions, those with multiple campuses, or remote teams.
Smaller colleges and universities often operate with lean procurement teams and limited IT infrastructure. For them, eProcurement solutions can make a big difference.
Benefits include:
With online procurement software, small institutions gain the tools to modernize their purchasing without significant capital investment.
Larger institutions face a different set of challenges. They’re typically managing high-volume transactions, multiple departments or campuses, and complex procurement needs. Online procurement software helps streamline operations at scale.
Solutions allow you to:
By leveraging the full power of eProcurement solutions, large institutions can reduce waste, negotiate better contracts, and align procurement with strategic goals.
One of the biggest advantages of online procurement software is the ability to reduce time-consuming manual work. Automated workflows enable you to save time, minimize errors, and reduce delays. This improves the experience for procurement staff, faculty, and suppliers.
Additionally, real-time visibility helps you manage your budget and spend more efficiently. Online procurement software provides the transparency you need to track how and where money is spent.
With the right solution, academic institutions get:
With an intense focus on delivering goods and services at lower costs, eProcurement solutions can drive strategic procurement by helping you analyze purchasing data. You can use procurement software to help you:
One of the greatest strengths of eProcurement solutions is flexibility. Whether you’re a community college with a single purchasing manager or a large research university with dozens of procurement roles, these platforms can be tailored to fit your structure and scale as your needs evolve.
Cloud-based deployment also minimizes the IT burden and ensures that all of your data remains in sync. There’s no more wondering whether the spreadsheet you’re looking at contains the most up-to-date information and whether there are formula errors that create inaccurate data.
Whether you are looking for eProcurement solutions, broader online procurement software, or the long list of goods and services your institution needs, cooperative contracts offer significant savings. With cooperative contracts, you can streamline your procurement while also tapping into volume discounts.
E&I Cooperative Services is made up of more than 6,000 academic institutions, leveraging aggregated demand to achieve better pricing and more favorable contract terms. You can opt in to pre-negotiated, competitively sourced contracts with standardized terms to streamline compliance. This creates significant efficiencies and greater savings.
No matter the size of your academic institution, E&I Cooperative Services can help you save time and money. View available contracts at E&I today.
