What Can Procurement Automation
Do To Your Business?

What Is Procurement Automation?

Supply chain management is complex and has many moving parts. Still, you can streamline the complete source-to-procure processes to save time and resources. A feature-packed AP automation software lets you keep all your spending in one easy-to-use system. It facilitates an easy buying process while ensuring compliance and control. Before we move forward to the benefits of procurement automation , let's look at the evolution of digital automation.

The Progress Of Supply Chain Automation

Over the past decade, digital procurement technologies have revolutionized the procurement process. Cloud-based software has significantly lowered overhead costs, minimized upfront investments, and facilitated real-time information sharing between businesses and suppliers.

Regardless of a business's size, the procurement function involves a series of steps to acquire goods or services to meet business objectives. You can focus on selecting the best suppliers at competitive prices, ensuring high-quality goods and services. Beyond procurement itself, the process includes:

• Optimizing supplier performance.
• Minimizing sourcing cycle times.
• Evaluating vendor performance.
• Managing risks and compliance.

How Can Procurement Automation Simplify Your Workflow?

• Digital sourcing: Say Goodbye to manual and email-based RFP-RFQ processes. Qualify your suppliers easily on the portal. The sourcing team can now source for different events, such as auctions, quick quotes, etc., all in one unified platform.
• Effective buying experience: With simple and easy-to-use request templates, buyers can now raise a request with all critical information upfront. Let your team enjoy browsing, punching out to third-party catalogs, and raising requests on the go.
• Robust approval mechanism: Route your purchase requests through a tailor-made approval mechanism, where they can be approved or rejected on a mobile application capable of handling complex approval channels.
• Online supplier onboarding: With procurement automation software, you can use an effective self-service portal for suppliers. It makes it easy and error-free for supplier onboarding to collect all the contact and financial details.
• Ditch manual processing: Eliminate or reduce manual processing, and POs can be automatically created once the requests are approved. Strengthen your relationship with suppliers through the self-service portal, where suppliers can see the details of the orders raised and the pending invoices to be cleared.
• Improvised spend analytics: Enhance your spend visibility using powerful filter and search functionality. With procurement automation software, you own your dashboard and reports to drill down and analyze your spending categories.
• Easy to integrate: Integrate your source to procure automation solutions with your existing ERP, ticketing, and other systems for seamless and relevant data sync.

Upgrade to better with AP Automation

The above points very well explain how E-procurement can benefit businesses. Consider the best procurement software having all the features that streamline procure-to-pay operations, such as automating the process, helping get approvals faster, and giving better control over spending. All in all, it is an efficient and cost-effective procurement management solution.

Features you will love

• Issue cards directly from procurement: Simplify payments by issuing cards directly through procurement processes.
• Automate procure-to-pay: Streamline purchasing processes from request to payment.
• Complete vendor visibility: Centralize vendor data for better insights and decisions.
• Unified spend overview: Easily track and analyze all company expenses for informed decision-making.

The bottom line

If you're managing procurement manually, it's time to upgrade. Explore more about procure-to-pay options with us. Whether you need new AP automation software or ERP integration, Cyret offers the best solutions. Contact us online or call +91-20-27293597 to schedule a consultation with our experts.