Indianapolis, IN, October 07, 2019 –(PR.com)– 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, catalog & 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.
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, eRFX, eAuctions, Contract Management to Award and P.O Generation.
As ProcurePort plans for 2020, conservative projections position the company to triple its 2019 revenue and customer base. The company’s primary focus in the next 24 months will be to continue providing 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 2020, ProcurePort will unveil a new version of its e-Sourcing suite that will include an upgraded user interface along with Contract Management and Source to Pay modules.
For more information, visit www.ProcurePort.com or call 1.866.643.8153 (toll-free in North America).
Note to Media: To schedule an interview with a ProcurePort representative to discuss trends in e-sourcing, online procurement, e-marketplaces, P.O and Invoice automation, contact us at [email protected]
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