Adobe Digital Dialogue

Pass by procurement pain points with e-signatures

Procur­ing the right prod­ucts and ser­vices is vital for busi­ness suc­cess, but for many organ­i­sa­tions, pur­chas­ing is still mired in admin­is­tra­tive over­heads and lengthy approvals. Stream­lin­ing autho­ri­sa­tion process­es and improv­ing con­tract vis­i­bil­i­ty, e-Sig­na­ture tech­nol­o­gy cre­ates a user-friend­ly expe­ri­ence for the pro­cure­ment team and exter­nal ven­dors. Dis­cov­er how Adobe Sign can cre­ate effi­cient dig­i­tal doc­u­ment work­flows that improve inter­ac­tions with and with­in your busi­ness.

Procurements many factors

To ensure prod­ucts are fit for pur­pose and val­ue for mon­ey, medi­um-to-large organ­i­sa­tions have for­mal pro­cure­ment process­es that involve more than just order­ing some­thing with a cred­it card over the phone.

Pro­cure­ment is a busi­ness func­tion that includes process­es such as spec­i­fi­ca­tions devel­op­ment, val­ue analy­sis, sup­pli­er mar­ket research, nego­ti­a­tion, buy­ing activ­i­ties, con­tract admin­is­tra­tion, and inven­to­ry con­trol, accord­ing to the Insti­tute for Sup­ply Man­age­ment.

More­over, research firm Gart­ner notes that buy­ers are pres­sured by chang­ing and con­flict­ing ven­dor pric­ing, deploy­ment, and financ­ing mod­els, so inno­v­a­tive pro­cure­ment strate­gies can dri­ve real busi­ness out­comes.

Pro­cure­ment man­agers are faced with long con­tract com­ple­tion times, chal­lenges with scal­ing pro­cure­ment resources and the legal risk that comes with paper-based process­es.

For staff to get real val­ue from a prod­uct or ser­vice there­fore, the more pro­cure­ment can be stream­lined the bet­ter, and greater agili­ty means bet­ter deals.

Accelerate workflows while keeping security

Paper-inten­sive pro­cure­ment prac­tices slow busi­ness response times and cre­ate a com­pli­ance risk. Let’s con­sid­er how e-sig­na­tures can stream­line pro­cure­ment for real busi­ness out­comes.

• Bet­ter deals: it might not seem obvi­ous, but an agile, well-organ­ised pro­cure­ment depart­ment can secure goods and ser­vices at the most com­pet­i­tive prices and on the best terms. One of the best ways to devel­op that agili­ty is to digi­tise process­es and elim­i­nate man­u­al inter­ven­tion that slows pro­cure­ment. By going dig­i­tal, pro­cure­ment depart­ments can speed con­tract­ing cycles by as much as 500 per cent and secure the best deals at any time. Adobe Sign helps accel­er­ate the pace of busi­ness by work­ing with your exist­ing process­es and sys­tems to expe­dit­ed trans­ac­tions.

• Com­pli­ance: in addi­tion to the lengthy time spent on man­u­al and paper-based pro­cure­ment, human error and lost doc­u­ments can expose a busi­ness to sig­nif­i­cant com­pli­ance risk. Mov­ing to e-sig­na­tures great­ly reduces, if not elim­i­nates, this risk, as there is an audit trail that is vast­ly eas­i­er to search and retrieve infor­ma­tion from com­pared with paper doc­u­ments. Adobe Sign pro­tects your data with indus­try-lead­ing secu­ri­ty stan­dards.

• Col­lab­o­ra­tion: pro­cure­ment, par­tic­u­lar­ly in larg­er organ­i­sa­tions, can be siloed into a depart­ment, result­ing in a dis­con­nect between the many line of busi­ness and pro­cure­ment staff. Pro­cure­ment is rel­e­vant to every area of a busi­ness and with a stan­dard­ised, dig­i­tal doc­u­ment process pro­cure­ment, depart­ments can bet­ter dis­trib­ute com­mon tasks through­out their organ­i­sa­tion. There is a big incen­tive for pro­cure­ment depart­ments to get all areas of the com­pa­ny on board with the best pro­cure­ment prac­tices. With a stan­dard dig­i­tal pro­cure­ment process, the work­load that would nor­mal­ly fall sole­ly on pro­cure­ment staff can be redis­trib­uted. Adobe Sign makes 100 per cent dig­i­tal work­flows a real­i­ty with trust­ed, legal elec­tron­ic sig­na­tures across any area of the busi­ness.

Pro­cure­ment is one of the most impor­tant func­tions for a busi­ness to get right and organ­i­sa­tions stand to gain far more than just process effi­cien­cies by bring­ing it into the dig­i­tal era.

Document Management

Join the discussion