Many organizations remain saddled by technologies, processes and workloads that create pain.
Consider the life of a typical procurement and finance professional today. These professionals are:
- Doing the job of more than one employee
- Working late and on the weekends
- Wasting time with data entry and processing
- Using purchasing and AP systems that are complex and hard to access
- Manually updating, processing and verifying financial documents
- Chasing internal and external stakeholders for answers and approvals
- Spending a crazy amount of time responding to supplier questions on orders and payments
- Failing to spend time on the projects that matter most to them and their business
…and banging their heads on the desk over and over again.
As a business leader, you and your employees deserve a cure. And no, we aren’t talking about Advil. The right procure-to-pay strategy eliminates pain and makes everything easier – for you, your team and your suppliers.
Here are the four essential steps to eliminate operational headaches, improve employee satisfaction and simplify your day-to-day.
To make life easier, your procurement platform must be user-friendly.
When procurement processes are difficult, employees go rogue with their purchasing habits– and we mean literally. Rouge purchasing and maverick buying are two of the most harmful side effects of complex and non-existent procurement solutions. They negatively impact the bottom-line and create more work for your team.
Going rogue creates an avalanche of catchup work. For example, let’s say an employee makes a purchase without a PO or buys from an unapproved supplier. In each case, procurement must allocate additional time and resources to review and manage the transaction.
On the other hand, when user adoption is high – and all purchases, suppliers, invoices and payments are managed within a single platform – efficiency, productivity and control skyrocket.
To increase adoption, give your employees a modern and user-friendly business purchasing software that makes it easy to find and buy the goods and services they need. Focus on finding technology that offers a consumer-like shopping experience on the front end, backed by robust, enterprise-grade procurement and financial controls. With remote and hybrid work now the new norm, ensure your solution enables employees to work from anywhere and everywhere, even on a smartphone. The key is to remove all friction that prohibits employees from working smartly, quickly and within the process confines that procurement has created.
Improve Data Quality and Maintenance
If you can’t trust your data, then you can’t make smart and fast business decisions. Period. Even the slightest doubt about the accuracy or completeness of financial information will force teams to spend time and resources verifying that everything is right. Poor data also leads to inaccurate reporting, higher costs and wasted resources.
There are many operational issues that negatively impact data quality. Some of the most common are:
- System and process silos
- Procurement, finance and ERP systems that don’t connect or sync
- Manual processes and data entry
- Poor user adoption
- Non-digitized procurement and AP processes
- Rogue purchasing and unmanaged spend
Good data is critical to making sound financial decisions and making life easier on your procurement and financial teams. Think about it: How would you rather spend your extra time – verifying data and double-checking information, or taking lunch and getting home on time?
To solve these challenges, equip your team with a best-of-breed digital procurement solution that:
- Houses information in a single platform
- Seamlessly connects and “talks” to other financial systems
- Automatically enriches and cleanses your data
- Electronically captures and processes invoice documents
- Identifies and automates exceptions
- Automatically verifies transactions with three-way matching.
- Leverages AI to proactively flag and uncover errors and issues
Good data results in better outcomes, smarter decisions, more time and less headaches.
Digitally Connect People and Networks
How much time does your team waste coding invoices and payments, chasing suppliers via email, searching for documents, closing the books and verifying payment statuses? If your procure-to-pay process is manual, the answer is way too much.
There’s a much easier way. Digitization saves times, eliminates work and simplifies supplier collaboration by connecting people and data, wherever they are working. This enables all parties to quickly find what they need, connect silos, communicate and work faster. It also increases control, speeds cycle times and creates real-time visibility into document exchanges, purchase orders, payment confirmation and more.
When everyone is connected, everything becomes easier, more convenient and efficient – for you, your team and your supply partners.
Raise your hand if you want to work late, put in more hours or have the capacity to take on new projects during the day. I’ll bet your hand is still down.
Just like every dollar adds up, so does every minute. Automation eliminates work and makes your life easier.
We’ll say that again: automation eliminates work. Specifically, automation takes care of the tedious and manual processes that cause the biggest headaches, like moving data from one system to another, coding and reconciling invoices, processing payments, searching for suppliers and managing approvals.
The reduction in work frees you up to focus on driving high-value wins during the day and getting home early (or at least on time).
At Vroozi, we’re obsessed with making it ridiculously easy for anyone to find, buy and pay for the goods and services they need. If you are ready to make your life easier, request a demo with Vroozi today.