Web scraping will revolutionize how businesses manage procurement data. It can help automate the gathering of key information such as supplier data, pricing trends, and terms of contract to help a company improve its procurement strategy and make informed decisions.
But how does procurement website scraping work, and what factors should a business consider when looking to apply it?
What is web scraping for procurement?
Procurement data scraping is the process by which extraction of data is automated from procurement websites to aid an organization in making the right purchasing decisions.
The objective is to collect and analyze large volumes of procurement data, such as information about suppliers, product prices, and tender information, to make procurement processes more efficient.
Procurement scraping enables businesses to collect and create custom datasets tailored to their needs, facilitating better analysis and decision-making. It can also help businesses identify supplier trends, track tenders to avoid missing out on opportunities, and monitor competitor activity by analyzing their bids and procurement patterns.
An example of a procurement scraping project is Datamam’s work with a leading tender data centralization company aiming to digitize and automate the procurement process. The project required scraping procurement notices, which needed to be delivered in a custom format four times daily. A major challenge was managing and processing diverse data spanning from 1980 to the present, amounting to over 2,500 notices daily, each containing 175-300 data points.
Datamam automated the procurement data extraction, streamlining the process and attaining 35% operational efficiency with a reduction of cost by 20%. This solution enabled the delivery of a comprehensive overview of procurement trends in near real-time, increasing transparency and accessibility for stakeholders.
For more information about the basics of web scraping check out our dedicated article here.
Datamam, the global specialist data extraction company, works closely with customers to get exactly the data they need through developing and implementing bespoke web scraping solutions.
Datamam’s CEO and Founder, Sandro Shubladze, says: “Web scraping enables organizations to tap into a vast amount of procurement information in real-time, from supplier bids to historical data, on which informed decisions can be made for improving efficiency and economy substantially.”
What are the benefits of web scraping for procurement?
Web scraping is used by the procurement departments of firms to keep a tab on supplier pricing, product availability, and their offerings in real-time and keeps them updated with information. It empowers teams to make quicker and more informed decisions.
Businesses can scrape information on competitor pricing and trends that procurement teams can then act upon. The business now has the power to alter its pricing strategies, bargain better, and stay competitive in the market.
Access to up-to-date pricing from a range of suppliers enables business entities to identify cost-saving opportunities and favorable deals. It also helps businesses expand their sourcing options by finding new suppliers across various industries and regions, opening up opportunities for better pricing, quality, and supplier diversity.
By continuously monitoring global supplier information, procurement teams can diversify their supply chain, mitigate risks associated with supplier dependency, and ensure a steady flow of goods and services.
Through analyzing historical procurement data, businesses can also forecast future demand for goods and services that would help with inventory management and coordination with suppliers to avoid overstocking or a shortage of items.
If you’re also exploring how data can support outreach and customer engagement, check out our article on using web scraping for marketing to see how it helps optimize campaigns and track competitors.
Sandro says: “This data-driven approach helps companies serving today’s competitive market not only improve their deals but also increase the accuracy of demand predictions, thereby creating strategically advantageous cost savings in operational efficiency.”
How can I use web scraping for procurement?
Many different kinds of data can be scraped for use in procurement processes. Some of these include:
- Supplier information: Including contact information, product offerings, and certifications.
- Prices: Real-time or historical pricing information helps businesses make better buying decisions or negotiate contracts.
- Contracts: Scraping contract details from publicly available procurement platforms to understand the terms and conditions set by various vendors.
- Bids: Information on submitted bids or tendering processes, giving insight into competitive pricing strategies.
- Tenders: Listings of open and closed tenders, allow companies to keep track of opportunities for procurement or sales.
Data can be scraped from government procurement portals, where tenders, contracts, and bids are publicly available. Organizations like the United Nations and World Bank also post procurement opportunities that can be scraped for business insights. Additionally, subscription-based portals provide specialized procurement data, allowing companies to track opportunities. Larger organizations may have dedicated portals listing procurement information, such as supplier contracts and tender notices, which can also be valuable for scraping.
To implement a successful procurement data scraping project, you can follow this guide. For more information about the methodologies and techniques behind web scraping, our detailed guide can help: How web scraping works.
1. Set up and planning
First comes planning-your scraping process, where you will decide on which key procurement websites you will scrape from, and which data you need such as the details of suppliers, pricing, or tender deadlines.
2. Choose tools and install libraries
One of the most popular languages used for scraping is Python due to its versatility and ease of use. Several libraries are used in web scraping. The two most common are Beautiful Soup and Selenium.
Beautiful Soup will parse HTML. Selenium can get at dynamic content of use websites with JavaScript.
For those who would like to dive deeper into the technical details and harness the power of Python for web scraping, our comprehensive guide on Python web scraping is a great resource.
3. Extract data
Once the environment is established, begin submitting requests to that target procurement website. Use a library that will grant access to the HTML wording of the web page to find the prices, supplier contact info, or tender descriptions you’re looking for.
4. Error handling
Many procurement websites have rate limitations or employ bot detection. So, error handling needs to be developed to handle blocked requests or CAPTCHAs. Several techniques can be employed in case of such obstruction in certain websites; rotating proxies can be one, and changes in the timing of requests can be another.
5. Storage and use
After capturing the necessary data, store it in a structured format like CSV or JSON. Thereafter, you can import data into analysis tools or integrate it into a procurement management system.
Sandro says: “Web scraping integrated into procurement platforms can massively upgrade the decision-making process of organizations. When they work with specialist data providers, it can be quicker and more viable on the road to success.”
What are some of the challenges with procurement website scraping?
Procurement website scraping can offer numerous advantages, but it also presents a range of challenges that must be addressed to ensure successful outcomes. Firstly, businesses must follow the legal and regulatory frameworks in place. Most websites have Terms of Service, which must be respected when scraping to avoid possible legal consequences.
Some procurement websites may have restrictions on how the data can be used or redistributed, posing legal challenges related to data licensing. Scraping this type of data without proper consideration of licensing agreements can result in compliance issues, which must be factored into any scraping project.
Procurement data may involve sensitive information, especially in government tenders. In these cases, data protection regulations such as the General Data Protection Regulation (GDPR), and the Computer Fraud and Abuse Act (CFAA) must be observed. Also users should respect the ethics of web scraping, and avoid scraping in a manner that would interfere with the operation of a website.
High-quality data from procurement websites is pivotal in informed decision-making. Procurement platforms may have inconsistencies in presentation or representation that may result in inaccurate data. Websites change their structures over time, and advanced tools are needed for correct parsing, cleaning, and normalization procedures, requiring continuous revision of the scraping mechanism.
To help overcome these challenges, Datamam provides customized web scraping services for each of these challenges. Our procurement data scraping expertise ensures the provision of real-time accurate and structured data, while maintaining compliance with legal and ethical guidelines. Advanced development in scraping tools and technologies helps us overcome anti-scraping measures to ensure seamless extraction of data even from highly protected sites.
Sandro says: “One of the biggest challenges in procurement website scraping is navigating the complex legal and ethical landscape. Companies need to balance their desire for data-driven insights with the need to respect data usage laws and website terms of service.”
We can provide ongoing maintenance of your scraping infrastructure to make it up-to-date and resilient to changes. By partnering with Datamam, businesses can not only navigate the complexities associated with web scraping for procurement, but also maximize the potential benefits it has to offer.
For more information on how we can assist with your procurement scraping needs, contact us.
