Automated Purchase Requisition:
Implement workflows for creating and approving purchase requisitions. Streamline the request-to-approval process, reducing delays and minimizing manual intervention. Improve visibility into requisition status for both requestors and approvers.
Vendor Management:
Design workflows for onboarding new vendors and updating vendor information. Automate vendor qualification processes to ensure compliance with organizational standards. Streamline communication between the procurement team and vendors for efficient collaboration.
Purchase Order Processing:
Establish workflows for the creation, approval, and tracking of purchase orders. Automate the generation and distribution of purchase orders to relevant stakeholders. Enhance accuracy by minimizing errors associated with manual order processing.
Invoice Management:
Implement workflows for invoice validation, approval, and payment processing. Automate matching invoices with purchase orders and receipts for greater accuracy. Ensure timely payments and maintain positive vendor relationships.
Contract Lifecycle Management:
Create workflows to manage the entire lifecycle of contracts, from creation to renewal or termination. Automate contract approval processes and ensure compliance with contractual obligations. Improve visibility into contract status, key dates, and performance metrics.
Budget Tracking and Compliance:
Establish workflows for tracking procurement budgets and expenses. Automate alerts for budget overruns and deviations, ensuring compliance with financial guidelines. Provide real-time insights into spending patterns for informed decision-making.
Supplier Performance Evaluation:
Design workflows for assessing and monitoring supplier performance. Automate the evaluation process based on predefined key performance indicators (KPIs). Foster continuous improvement by providing constructive feedback to suppliers.