Thanks to the ever-evolving global business landscapes, the oil and gas industry has become highly competitive. With international interests, changing international diplomacies and an increased interest of countries like China, the Oil and Gas production industry is no longer what it used to be a few years ago.

 This two-decade-old platform has a multitude of advantages over traditional procurement methods. An efficient attainment and supply chain management depends on the working efficiency of information technology tools that make it possible for handling big data volume and analysing it functionally to gain the best results from using the company’s assets. Digitisation has made its way into the maritime field, also proving that it is a fundamental tool to increase procurement efficiency. Intelligent optimisation will aid in the planning of a company’s strategic procurement process and objectives.  

What are some of the best benefits of eProcurement platforms? 

 The advantages don’t stop with a few, but each e-platform offers different solutions for procurement departments. To name a few, eProcurement platforms connect buyers and sellers, have methodical invoice management systems, look into suppliers as well as inventory management systems. Added to this, the spending optimisation is maintained while observing the performance analytics. Moreover, the access is not limited to just one device, but multiple devices. 

 Several eProcurement platforms use the latest technology and cloud-based systems to make reliable, data-rich, and insight-driven solutions- the kind that makes it work for ship owners, managers, and suppliers who serve the industry. Many eProcurement platforms make it easy for customers to connect with ready-made connectors for most software systems. They provide easy-to-use products and customer service at all times. Considering the security of eProcurement platforms, transaction data security and reliability are critical. Hence, it is very important for the platforms to have reliable IT infrastructure and processes. 

 Many organisations still face challenges to overcome barriers in the e-business transformation. However, the bottom line is that there is a strong recognition of eProcurement in the marine industry and gradually, customers will begin to see early gains from this platform. This will be a kickstart for implementing these solutions into other areas of businesses as well.