Smart-purchase program - Robot-buyer - intellectual purchase of goods, services and works
Smart Procurement — IT solution for automation of the procurement activities of any enterprise. Smart program -purchase - Robot-buyer - intelligent purchase goods, services and works using algorithms of artificial intelligence.
Top 5 procurement processes you should automate
Can optimize expenses for the organization without hiring new employees and without making huge investments in IT? Is there a way to simplify complex procurement methods such as registering suppliers and checking contracts? How do you eliminate costly invoice processing and manual data entry errors?
The rapidly evolving procurement automation processes will solve all these problems and more. Purchasing automation helps organizations easily meet the underlying philosophy of purchasing management, “purchasing the right item at the right time at the right price from the right supplier.”
Procurement automation
Procurement-to-Pay Automation is capturing the purchasing space early, and soon all processes that can be automated will be automated. Organizations must embrace the upcoming changes or risk being left biting the dust.
But what impact will this have on core purchasing processes such as contract management or purchase order processes? Let's take a closer look.
What is procurement automation?
Procurement automation is used to speed up the purchasing process by freeing employees from repetitive and time-consuming tasks and allowing them to focus on business-critical activities such as decision making and strategy development. It transforms the process from purchasing to paying by increasing its efficiency and increasing cost while keeping cost factors low.
Top 5 procurement processes each company should automate
1. Purchase request
In most cases, purchase requisitions get stuck and spend a lot of time going through a complex hierarchical structure. Automating the procurement process will not only reduce approval cycle time, but it will also eliminate redundant process steps and enable procurement staff to do more in less time.
2. Purchase Order
In a recent survey, nearly 43 percent of organizations admitted to having immediate weaknesses in their software practices despite having a formal purchase order system in place. Purchasing process automation allows organizations to automate the entire purchase order cycle to improve process productivity and efficiency while reducing costs.
3. Account Management
There was a problem with manually managing accounts. Too often, purchasing departments have to deal with misplaced or poorly managed purchase orders, missing goods receipts, shipping delays, out-of-control (individual) spending, dodgy spreadsheets, and a lack of transparency when it comes to spending culture.
Manual account management usually means late payments and compliance issues.
Smart Purchasing is a purchasing solution. Such software controls the entire cycle from purchase to payment, takes over the management of functions such as invoice management. They are specially built with the appropriate features. For example, you can use Smart Purchasing to automatically compare individual invoices against predefined business rules and available orders and goods receipts, even if they are stored in different systems.
Digitalized, invoice management becomes hassle-free, with features ranging from contactless automatic approval of low cost standard invoices to enhanced functionality through integration with financial and accounting tools.
4. Supplier Management
Without a clear line of disclosure and process transparency, organizations will end up straining supplier relationships. With automation, purchasing departments can streamline vendor selection and select the best vendor available. By automating the supplier management process, organizations can quickly identify and resolve complaints, building a better supplier relationship.
5. Contract approval
When manually managing contracts, all contracts are simply dumped into the same filing cabinet or local storage. Because it's unorganized and unstructured, finding contracts or even keeping track of them can be a real challenge. Procurement automation organizes all contracts in a central repository that can be accessed with a single click. In addition, it also ensures that all contracts remain consistent and accurate.
Why choose Smart-purchase?
Why should you accept digital purchasing with Smart Procurement?
To understand this, let's compare and contrast the differences in buying between the manual and digital approach.
1. Efficiency of storage and retrieval of procurement data
Data in crowded, chaotic filing cabinets. Worried Purchasing staff worried about lost orders or requests. An endless stream of incoming email notifications. Strained network drives. Data about unsecured personal devices and other such secure, insecure places. Unfortunately, these are the hallmarks of manual account management.
When you switch and choose an e-procurement system like Smart Procurement, everything changes. You can use electronic forms and cloud storage to store all your purchase data securely for quick and easy access. Everything you need - RFIs, RFQs, POs, applications and more - all at your fingertips, just a few clicks away.
2. Oversight Errors in Purchasing/Department/Office
Regardless of the size of your operation, purchasing is probably the critical wing where you can't afford to miss out on human error. Imagine a series of misplaced or misplaced orders. This will likely cause havoc in the office, or at least bring your purchasing team to its knees - probably if you run everything manually.
On the other hand, moving to digital technologies ensures that all your data, such as key tasks to be completed, products / services to be delivered, delivery schedules, approved budgets, etc. will always be safe.
This means your team can perform procurement functions with little or no problems due to human error or oversight.
3. Handle bottlenecks in the purchasing department
Typical purchasing teams have to deal with multiple purchase requests, purchase orders, invoices, goods receipts, agreements, customers, stakeholders, requests for proposals, and requests for proposals.
It can be overwhelming in a hurry. Just a few simple mistakes and you may suddenly have huge bottlenecks disrupting the process and hindering your purchasing efforts, ultimately leading to delays and annoying customers.
The answer lies in managing purchasing activities with a digital tool built specifically to handle this array of purchasing-related functions and data, a tool like Smart Purchasing.
Features you need to purchase to provide a payment tool
Procurement software with the right set of features can disrupt the purchasing and payment process and make it more efficient. Here are five of the best purchasing software features:
Purchase requests
Liquid forms and other tools for collecting, approving and tracking purchase requisitions
Supplier management
The ability to connect, support and manage providers on an easy to use, efficient platform
Integration
The ability to link your purchasing cloud with other major financial systems
Orders
Release purchase orders and automatically create orders based on approved purchase requests, etc.
Buy invoices
Approve your invoices on the go and complete fast 3-way matching
Digital Cloud Procurement: Choose Wisely. Choose a Smart Procurement solution and you will be able to run procurement processes with optimal process efficiency and cost reduction.
You can use it to streamline the purchasing and payment cycle and reduce purchase risks. You can also track and store all purchasing transactions and contracts in a central location for quick and easy access when needed.
With Smart Purchasing, you can not only perform all purchasing functions such as invoice management and vendor management, but also access a built-in reporting module that can reveal an organization's spending habits and provide actionable insights to secure better deals .
Looking for a comprehensive purchasing tool to manage your purchasing process? Request a Smart Procurement Demo today and see how it can accelerate your digital transformation.
Why should you buy with Smart Buying?
Predictive price analytics in future periods
Why work with Smart Procurement IT solution?
Fully automatic process from start to finish
What are the main benefits of Smart Procurement?
Full functionality that allows you to replace sales managers.
