How to automate the procurement process?
You need to begin by modeling your current procurement process. This will let you identify any repetitive, time-consuming, and error-prone tasks that can benefit the most from automation. Then, move on to assess your map to find bottlenecks and pain points. Problematic processes can include costly invoice processing, erroneous AP data entries, long PR and PO approval times, etc.
Now, move on towards bringing these processes to a digital platform. Eliminate the use of paper and files first by introducing digital systems and shifting to e-signatures. Then, identify communication bottlenecks. For example, does your staff have to email forms to managers? Or are they leaving notes in their office? These processes are the ones that need to be automated.
Then, you need to find the procurement software that suits your needs. For example, if you already have a separate vendor management system you’re satisfied with, you don’t need a full-fledge procurement cloud. However, if you want to bring all activities to a single platform, opt for sophisticated holistic solutions, like Kissflow Procurement Cloud.
Build your automation workflows on your system and go live with your automation solution.
Recommended Reading:
How procurement automation can help Procurement?
Procurement Software for Small Business in 2023 - How to Choose?
Top 5 procurement tools available in the market and which to choose
How to Build a Solid Procurement Strategy for 2023 [9 Steps]
11 Essential Procurement KPIs You Can’t Ignore
Top 4 Procure to Pay Solutions Your Business Needs
5 Most Important Procurement Solutions in 2023 You Need
The Vendor Management System (VMS) Buyer’s Guide 2023
The Ultimate Guide to a Truly Effective Procure-to-Pay Process
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