Save time, money, and resources - sourcing the right goods, at the right time, and at the right price.
Sounds good, yes? Procurement automation provides on average 40% increase in annual savings, 30% to 50% less time spent on transactional sourcing, and a 50% reduction in value leakage through more strategic sourcing decisions.
People and data
A no-code cloud-based automation platform bridges the gap between people, data, and existing technologies, sparking a chain reaction of improved productivity while transitioning the procurement function into a value creation engine. This Intelligent Automation approach uses a suite of AI-powered services allowing the full capture of procurement savings.
Efficiency and effectiveness
This creates a P2P AI-powered solution that connects all business units and departments, capturing all procurement spend data.
1. Collaboration and communication are greatly enhanced across the process, made simpler by a fully integrated cloud platform with mobile-friendly access.
2. All Procure to Pay (P2P) internal processes and approval workflows are fully automated, with iterative improvements “baked in” thanks to machine learning.
3. Shorter more agile processing cycles mean you can procure the right goods, at the right time and at the right price by using the best negotiated terms from the right suppliers.
4. With manual tasks being automated it frees up employees from tedious, time-consuming work enabling them to focus on strategically valuable tasks.
5. Reduce your dependency on large on/offshore teams as processing is automated.
6. Spend visibility is managed to make sure every purchase is made with the correct supplier ensuring no maverick spend and invoice discrepancies with maximum discounts applied.
7. Use predictive analytics to leveraging buying power.
8. Accurate data, available real-time, makes generating accurate forecasts, budgets, and reports quick and easy to deliver.
9. Cash flow management is focused where it is needed most, whether to cover expenses or invest in innovation.
10. Going paperless eliminates the costs and risks that accompany paper document management while increasing compliance and control of procurement operations.
People, processes, and technology
Our Intelligent Automation platform is equipped with advancements of the latest AI solutions. This means your business can push boundaries by connecting people, processes, and technology.
With a no-code Intelligent Automation platform, if you understand the process, you can create enterprise-scale digital process automations without any coding experience or skills. This empowers existing employees and means current workforces are already the people an organisation needs to deliver its digital transformation now and, in the future, picking up valuable digital skills on the way.
Employees with these new digital skills will feel more valued and happier at work, with their focus on higher-value activities supporting the growth of your business. The result is a faster, leaner digitised business with employees creating opportunities to reduce costs and pursue new sources of value.
P2P Challenges & Solutions
Data Integrity
Challenge - Managing a consistent influx of data entered across multiple systems, on top of evolving policies and compliance regulations, makes it hard to maintain accurate information.
Solution - When data, files and forms are automated, and your systems are communicating in a meaningful and trackable way, manual errors are eliminated, and your team can ensure you are working with the most up-to-date information.
Visibility and control
Challenge - Many organisations have fragmented ERP systems which creates challenges for multi-national companies to create a base spend cube.
Solution - An analytical dashboard underpinned by big data and advanced predictive analytics provides insights for future improvements in procurement performance. Enabling up to 40% cost reduction and a 50% reduction in value leakage.
P2P automation
Challenge - Many organisations have not centralised, automated, or modernised their disparate procure-to-pay process.
Solution - AI-Powered Intelligent Automation creating a fully integrated procure-to-pay solution delivering ~80% reduction in time across the full end-to-end procure-to-pay process.
Benefits of AI-powered P2P automation
AI & machine learning - the more data processed, the smarter the platform becomes, and the more efficient your organisation becomes.
Self-funding solution - with ROI typically within 3-6 months our platform is a self-funding solution using your existing operational budget’s so eliminating the need to source additional capital expenditure.
Embedded eco-system - Built-in features from our third-party partner ecosystem augment our suite of business process automations.
Analytics - Data gleaned from our automations helps you identify strengths and weaknesses in your business, and how you can improve.
Enterprise-grade security - Enterprise-grade security the automation platform is simple, safe, and secure as GDPR, SOC2 Type 2, and HIPAA compliant.
The future of procurement with Intelligent Automation
Intelligent Automation will transform your Procure to Pay to enable you to be more efficient and effective. Your team will create new digital process automations using hundreds of available actions, integrations, and data tools, with only a light touch from IT. As our platform handles the manual workload, allowing your people to focus on the important activities.
Find out more book a free consultation with one of our experts.
