Market Demand for Online Sourcing Fuels Growth for ProcuReport
ProcurePort, a leading provider of OnDemand e-Sourcing Software including Reverse Auction Software and services, is embracing 2015 as a banner year thanks to the growing acceptance of e-sourcing as a way to dramatically cut purchasing costs and streamline procurement.
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October 2, 2015 (FPRC) -- According to the Institute for Supply Managementô and Forrester Research, 85 percent of companies recently surveyed said they have made progress toward adopting the Internet for purchasing. Additionally, 46 percent said they use company-wide 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.
E-Sourcing is quickly gaining momentum among mid-market organizations as firms like ProcurePort target them with easy-to-use, on-demand sourcing services that provide substantial cost savings with minimal investment. According to Purchasing magazineís recent Benchmark Survey on E-sourcing Strategy, the use of these services rose by 24 percent in the past year. In comparison, the use of non-hosted solutions that require integration into a companyís IT infrastructure rose by a mere two percent. 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.
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 because they deliver deep functionality without expensive or time-consuming integration / implementation cycles. ProcurePortís mid-market clients that benefit from this online procurement model operate in a wide range of industries such as manufacturing, energy, government, construction, agriculture, education, electronics, telecom, healthcare, retail and technology. ProcurePortís unique combination of affordable, Web-based SAAS solutions for reverse auctions, spend analysis and e-RFI combined with expert customer support has positioned the company to emerge as a leader in helping organizations enhance their strategic sourcing initiatives.
'In todayís competitive marketplace, every companyís survival depends on tightly managing resources and operating efficiently. 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 facilitating online negotiations and analyzing resultsóor customers can choose to manage the entire process themselves through our self-service SAAS solution that provides reverse auction software and spend analysis software. Regardless of which service model customers choose, ProcurePort specialists can provide expert training to ensure that each implementation is a success.'
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Because ProcurePortís Web-based E-Sourcing solutions do not require expensive and time-consuming setup or integration, many of ProcurePortís customers realize a return on their investment immediately after their first sourcing event. 'This on-demand model is much more affordable than other alternatives and allows mid-sized businesses to benefit from the same online procurement technology that was previously only available to large corporations,' explains Smith. The rapid return on investment delivered through e-sourcing technology is one of the major reasons ProcurePort predicts that the strategic sourcing market will grow significantly over the next decade.
Since inception, the company has expanded its service set from discrete online auction tools to complete on-demand sourcing solutions including providing sourcing and spend analysis services. In 2011, 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 companyís primary focus in the next 18 months will be to continue providing the middle market with the most affordable, comprehensive and easy-to-use e-sourcing solutions available. 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 / Spend analysis software) and 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, ProcurePortís clients benefit from both the technology and purchasing expertise that can help them significantly reduce costs and increase procurement efficiency. ProcurePortís comprehensive software solutions use a hosted, Web-based interface to facilitate online negotiations without time-consuming or expensive technology integration. The companyís clients enjoy full access to sourcing, collaboration and analytical tools from any computer with an Internet connection. ProcurePortís affordability enables mid-market companies to compete with larger organizations and reach new levels of success in spend management. For more information, visit www.ProcurePort.com or call 1.866.643.8153 (toll-free in North America).
Send an email to Jack Smith of ProcurePort
Recent Press Releases By The Same User
ProcurePort Introduces Affordable and Flexible Pricing Tiers for the Mid-Market And High Growth Companies Looking to Implement E-Sourcing and Procure-to-Pay Software. (Mon 7th Aug 17)
ProcurePort launches Source-to-P.O Sourcing Software (Sat 19th Mar 16)
Arizona State University (ASU.edu) uses ProcurePort e-Sourcing Software to Educate the MBA and MS Students About the Benefits of Strategic Sourcing (Wed 9th Dec 15)
ProcurePort Sourcing Cloud Saves Global Real Estate Developer, 20% on Real-Estate and Infrastructure Projects (Sun 1st Nov 15)