HT Media, one of India’s largest media companies implements the ProcurePort Strategic Sourcing Software Suite to generate costs savings for its Print & Media purchases.
ProcurePort, a leading provider of On-Demand e-Sourcing Software further expands its global reach by signing on HT Media as a customer.
HT Media was founded in 1924 as Hindustan Times, inaugurated by Mahatma Gandhi. It has grown to become one of India’s largest Media Companies reaching 40 Million Indian Citizens via its various print and digital media outlets.
HT Media will implement the ProcurePort e-Sourcing Software further enhancing its e-Procurement initiative. The following key sourcing modules will be implemented by HT Media:
· Reverse Auction Software: Generate cost savings for its indirect purchases related to Print and Media.
· Request for Quote Software (RFQ Software): Automate its quote request process and improve compliance and security of handling and comparing supplier quotes.
· Contract Management Software: Create a central repository for all its contracts including contract alerts and analytics.
The new integrated ProcurePort e-Sourcing platform will support enterprise processes relating to the purchase of direct and indirect goods and services. Most common business processes that can be automated with the ProcurePort Source-to-Pay (S2P) platform include bid solicitation (including reverse auctions), supplier management, catalogue & inventory management, requisitioning, receiving, inbound invoice processing and payment, contract management and contract compliance.
According to Gartner™, by 2019, expanding adoption of e-invoicing, e-sourcing and supplier information management technology will result in a tenfold increase in digital B2B interactions.
Because ProcurePort’s Web-based E-Sourcing solutions do not require expensive and time-consuming setup or integration, many of ProcurePort’s 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.
About ProcurePort
Founded in 2001, 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 2017, ProcurePort further expanded its solution to enable the entire Source-to-Pay cycle. Starting from Requisitions, SFX, eAuctions, Contract Management to Award and P.O Generation.
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