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eProcurement & Procure-to-Pay Resources

Getting the Right Parts for Your Asset Becomes Easier

Posted by Doug Blossey on September 5, 2018 at 10:20 AM

As has been often discussed on this blog, the application of a B2C-like buying experience to B2B purchasing has benefits no matter what the industry. Whether it is a quick service restaurant, media company, CPG firm or institute of higher learning, making buying easier has a measurable impact.

This impact is particularly true with managing and maintaining assets that drive the business.

Asset Management:

Businesses invest heavily in assets to drive their success. For a transportation company, it may be vehicles, for a power company, it may be generators; in aviation, it is planes. The high availability of the asset is directly tied to the businesses’ ability to serve their customers.

To help businesses maintain these critical assets, Asset management systems provide the technical infrastructure to manage asset types, health, etc. Much like their ERP counterparts, when it comes to procurement, these technologies can be complex for the casual user.

Many companies have realized that the addition of a B2C-like purchasing platform, integrated to the enterprise asset management system can deliver the best of both worlds.

The BuyerQuest platform provides companies with a single buying channel, simplifying the purchasing process through an easy to navigate marketplace that feels more like a consumer website than business purchasing site. The technology allows for seamless integration with enterprise asset management (EAS), including automated processing from the EAS to BuyerQuest and back.

Operating with a B2C Mindset

When combined, BuyerQuest integrated to asset management creates a technology stack that automates, streamlines and simplifies the purchasing and work order processes. The combination of BuyerQuest with asset management delivers companies the following quantifiable benefits:

  • Planner/Scheduler resource optimization - time is the most important asset
  • Shortest time to value by extending and enhancing the EAS’s existing capabilities
  • Ease of use through a nearly zero training environment for end users
  • Dramatically increased operational efficiencies through intuitive solutions, cognitive buying, standardized processes, and expanded visibility
  • Increased savings by fully operationalizing the company's contracts to capture all aggregated savings potential
  • Procurement creating a competitive advantage for the business by becoming an enabler of savings and user satisfaction to drive more spend under control

Applying B2C capabilities to impact Asset Availability

Unplanned maintenance calls can create challenges for the business. Time is of the essence to get the asset up and running. Unfortunately, it takes time for the maintenance engineer to inspect the asset, diagnose the problem, then create the work order for repair. A complicated work order process can add to that time.

When combined with BuyerQuest, the work order process is streamlined. The maintenance engineer can quickly find the products needed at the right price, and seamlessly add them to the work order, saving time and money.

Learn more about BuyerQuest’s unique B2C capabilities.

 

Topics: Asset Management, Procure-to-Pay Technology

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