Posted in Procurement Automation

The 8 Top Procurement Trends For the 21st Century

Recent advances in technology are creating profound impacts on many businesses activities. In particular, digital transformation is rapidly changing back-office operations such as supply chain management and procurement. Digitally transformed organizations increase efficiency, lower cost, and adapt to fast-evolving customer expectations.

To stay relevant, competitive, and profitable, businesses need to keep pace with new technologies. Procurement is no exception. New technologies facilitate e-procurement, contract repository, supplier performance management, spend analysis, supplier information management, AP automation, business networks, contract authoring, and more.

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Posted in Workflow Automation

9+ Workflow Apps That Will Maximize Employee Productivity

Everyone wants a smooth workflow. The word itself says it all. You want the work to flow as you focus intensely and produce results with minimal time wasted. Yet we all know that’s not how our workdays turn out.

Thankfully, there are tools you can use to get rid of distractions and time-consuming processes. Think of them as shortcuts that enable you to focus on your work rather than all the superfluous details. 

A McKinsey report on social technologies found that simply by tapping into powerful applications, we can improve global productivity by 20 to 25%. The apps include those that can improve communication and collaboration between teams, saving time and improving performance.

Using technology increases employee productivity.
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Posted in Forms Automation

How to Integrate Forms & Workflow With Your Document Management System

A typical organization deals with dozens of kinds of documents. These are everyday things like invoices, new hire paperwork, student records, 401(K) change request forms, contracts, purchase orders, absence records and so on.

Truth be told, you’re still likely to find large filing cabinets and folders filled with documents in many offices. People still print out their documents, stick them in a folder and put it in the corner filing cabinet. Of course, paper documents are hard to find, maintain, modify, send around etc. – the usual problems. They’re also vulnerable to disasters e.g. a fire could destroy years of information.

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Posted in Procurement Automation

Why the Procure-to-Pay Process is Going Digital

As digital transformation sweeps across the globe, organizations are looking to use technology to improve efficiency in all departments. The procurement department, which owns the overall procure-to-pay (P2P) cycle, is no exception. Digital or e-procurement has the potential to hugely impact P2P.

What Is Procure-to-Pay?

Procure-to-pay is an umbrella term for the process of requisitioning, ordering, purchasing, and receiving goods or services for an organization. It’s a standard, necessary part of any business operations that may or may not involve multiple stakeholders depending on the size and hierarchy of the company. The process usually requires a lot of paperwork and time to complete fully.

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Posted in Workflow Automation

8 Workflow Examples That Will Help You Get Started Today

Companies everywhere are transforming their tedious, time-consuming, manual processes into streamlined, easy-to-use, automated processes. They’re doing it to reap the many benefits of automation technology. Updated technology improves consistency and companies have enjoyed increased productivity, availability, reliability, and performance, while drastically reducing costs.

However, each company has different automation needs and priorities. For example, a company that procures a large number of raw materials may benefit from invoice automation as opposed to a temp agency that may prefer to invest in automating new hire onboarding.

Here’s a list of workflow examples for common business processes. For each type, we’ll explain what your workflow should include to make them perform optimally. The right workflow automation software will help automate these processes, and so much more.

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Posted in Procurement Automation

Purchase Requisitions – a Definitive Guide

The Purchase Requisition process

A purchase requisition is an internal document that an employee within the business creates to procure goods and services. Note that the purchase requisition is different from the actual purchase order (PO). The requisition serves to obtain approval for the purchase from their manager or a VP before Finance actually issues a PO.

Organizations use the purchase requisition process to control the generation, approval, and tracking of purchase requests. It’s part of the overall procurement process.

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Posted in Procurement Automation

Digital Procurement Strategy – 9 Stats to Consider

Digital Procurement Strategy

When Deloitte surveyed procurement professionals in 2016, the overwhelming priority for most organizations was cost reduction (74%). The study also revealed that 60% of respondents did not have a clear digital strategy in their procurement process.

Fast forward to 2019, and things seem to be pointing in a different direction. The latest Deloitte study found a clear shift in procurement, with an accelerated pace of change in digital procurement. While cost reduction remains a priority (78%), there was a clear emphasis on innovation and value as well.

So with that in mind, here are some key statistics to focus on as we move toward 2020 and beyond.

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Posted in Workflow Automation

12 Essential Features Your Workflow Management System Needs

Are you ready to replace your expensive paper processes with automated, efficient, electronic forms/workflows? Looking for a low cost, low code workflow management system to quickly automate processes, enhance productivity and drive down costs?
Not sure where to start?

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Posted in Procurement Automation

Top 6 Procurement Risks & How to Alleviate Them for Your Business

Planning for Risk

In life or in business, risk taking has benefits and may even be an essential ingredient of success. Quite the opposite when it comes to procurement – the last thing you want is risk. A smoothly functioning procurement process is standardized and dependable.

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Posted in Workflow Automation

50+ Key Statistics to Help You Automate Smarter in 2020 and Beyond

Key Automation Statistics You Need to Know

Every time we think we’ve got a handle on automation, new statistics emerge to challenge our perception. Just this month, McKinsey released a new report about the future of women at work, saying that an estimated 40 to 160 million women around the world will need to transition their skills.

But the report also pointed out that both men and women will be similarly affected by automation, just in different areas. Without a doubt, the effects of automated processes will be felt in every sector across all roles.

To understand the scale and importance of automation in the workplace, take a look at some of these key statistics.

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