Benefits of a Modern, Cloud-Based Procurement Solution
Advances in technology are transforming traditional business practices by disrupting supply markets, changing customer buying patterns, and adding complexity to the supply chain. Procurement organizations must respond by taking on a more strategic role in all of the activities surrounding purchasing. They need solutions that are up to the task.
Moving procurement management systems to the cloud digitizes procure-to-pay processes with embedded mobile, social, and analytic capabilities and a richer, consumer-like user experience. With modern technology, such as built-in collaboration, embedded analytics, and a more intuitive user experience, companies can build a more effective purchasing system to control employee spending, reduce supplier risk, and improve cost savings.
- Support for a mobile workforce—Today, employees and managers are using mobile devices to do their jobs. Modern cloud procurement solutions enable you to leverage these devices to streamline processes, reduce latency, and allow faster approvals.
- Enhanced collaboration—Gain full visibility across the entire source-to-settle process and exchange documents and messages electronically with your suppliers. Integrated procurement processes facilitate real-time document authoring, reviews, and approvals. Embedded social collaboration enables teams to complete assignments faster and more effectively.
- Embedded analytics—Increase productivity with user-friendly dashboards that present information clearly and highlight actionable content. Interactive, role-based containers called infolets help users quickly visualize high-level information, review relevant details, and take action. Transactional applications leverage embedded analytics in context so that users can quickly decide on the next steps in a business process.
- Intuitive user experience—A consumer-like user experience enforces purchasing management compliance and makes it easy for employees to find what they need. Productivity improves because users are able to focus on more value-added tasks.