Executive Briefings

'Compliance' Often Main Reason for Buying E-Procurement System

Often "compliance" comes up as the main reason for buyers to move to an e-procurement system. In some cases, this means compliance with Sarbanes-Oxley, so a top priority is building transparency into all internal buying processes. One example that Pravin Kumar, vice president of products and services at Santa Clara, Calif.-based Ketera cites is tracking price updates in an online catalog. For Sarbanes-Oxley compliance, buyers should be able to identify when a price changes in a catalog and exactly who updated it. Through most e-procurement systems, suppliers input price changes automatically, minimizing buyers' need to monitor prices for every individual commodity.
Source: Purchasing, http://www.purchasing.com

Often "compliance" comes up as the main reason for buyers to move to an e-procurement system. In some cases, this means compliance with Sarbanes-Oxley, so a top priority is building transparency into all internal buying processes. One example that Pravin Kumar, vice president of products and services at Santa Clara, Calif.-based Ketera cites is tracking price updates in an online catalog. For Sarbanes-Oxley compliance, buyers should be able to identify when a price changes in a catalog and exactly who updated it. Through most e-procurement systems, suppliers input price changes automatically, minimizing buyers' need to monitor prices for every individual commodity.
Source: Purchasing, http://www.purchasing.com