6 Benefits of Mobile Applications in Transforming Procurement


May 22, 2022 | Procurement tools and solutions



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Stawan

May 22, 20222 min read


Mobile procurement apps improve business operations by digitizing procurement processes and providing real-time visibility. Benefits include increased efficiency, accuracy, collaboration, better decision making and cost savings. Mobile procurement apps reduce transaction times, lower errors, improve supplier relationships, enhance decision making and save up to 30% on procurement costs.


With the proliferation of mobile devices, mobile procurement apps are becoming increasingly popular. Mobile procurement apps provide businesses with the ability to streamline their purchasing process, gain visibility into their supply chain, and gain real-time insights into their procurement process. In this article, we'll discuss the benefits of using a mobile procurement app to better manage your business operations. 

  • Increased efficiency: Digitizing procurement processes through the use of a mobile procurement app can significantly reduce the time needed to complete procurement transactions. For example, a study by Accenture found that digitizing procurement processes can reduce transaction times by up to 60%. This increased efficiency can lead to improved productivity, as procurement teams are able to complete more transactions in a shorter amount of time. 
  • Improved accuracy: Mobile procurement apps allow for electronic data capture, reducing the risk of data entry errors. A report by Gartner found that organizations that use mobile procurement apps experience a 25% reduction in procurement-related errors, resulting in more accurate data and improved decision making. 
  • Increased visibility: Mobile procurement apps offer real-time visibility into procurement processes, allowing organizations to better understand their spending patterns and make informed decisions. A survey by Procurify found that 93% of organizations that use mobile procurement apps reported improved visibility into procurement processes. 
  • Enhanced collaboration: Mobile procurement apps can be used to collaborate with suppliers, streamlining the procurement process and improving communication. A report by Spend Matters found that organizations that use mobile procurement apps experience a 20% increase in collaboration with suppliers, resulting in improved supplier relationships and better outcomes. 
  • Better decision-making: With real-time data and increased visibility, procurement teams are better equipped to make informed decisions that support the organization's goals. A study by Aberdeen Group found that organizations that use mobile procurement apps are able to make better informed decisions, with 70% of respondents reporting improved decision-making capabilities. 
  • Increased cost savings: By automating processes and reducing paper usage, mobile procurement apps can help organizations to reduce costs. A report by Ariba found that organizations that use mobile procurement apps can save up to 30% on procurement costs, through improved efficiency and better supplier relationships. 

In conclusion, the use of a mobile procurement app can bring significant benefits to organizations. By digitizing procurement processes and improving visibility, mobile procurement apps increase efficiency and reduce errors, resulting in more accurate data and better decision making. They also enhance collaboration between procurement teams and suppliers, leading to improved supplier relationships and better outcomes. Additionally, mobile procurement apps can help organizations to reduce costs through automation and reduced paper usage. 

In today's fast-paced business environment, it's critical for organizations to have access to real-time information and streamlined processes. By leveraging the power of mobile procurement apps, organizations can achieve these goals and stay ahead of the competition. Whether you are looking to increase efficiency, improve accuracy, or reduce costs, a mobile procurement app can help you achieve your goals and drive success for your organization. 

FactWise is committed to generating win-win solutions for buyers and suppliers globally. Our singular focus is to build truly distinctive procurement software solutions that delight users and provide sustainable positive impact to the organizations we serve. 


About the Author

Stawan is the founder and CEO of FactWise. Before founding FactWise, Stawan was the NA TMT-Procurement Leader at McKinsey. Passionate about procurement, Stawan has 15 years’ experience in enabling clients of all sizes to achieve business impact via procurement.


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