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Why automating your procurement processes is now a necessity not a nice-to-have



A new white paper looks at how digital automation is continuing to disrupt business models, and the business case for automating procurement

 

Although business models are adapting as technology has advanced in the last decade, new research suggests that it’s simply not happening fast enough; businesses need to implement intelligent digital transformation tools now.

"Kiwi business leaders have a sense of urgency around digital transformation, with 60 % understanding they have less than two years to integrate a digital initiative before the full impact of digital disruption hits," the study concluded.”

What this means is that there are certain areas every business will need to automate - if they want to stay relevant and competitive.

Automation of business processes is a key area of digital transformation, and this is especially true when it comes to procurement. Procure-to-pay automation is actively disrupting the procurement space and soon every process that can be automated will be. Business owners and CIOs need to embrace the upcoming changes or risk being left in the dust.

We've developed a new white paper around the digital automation of procurement processes, and how you can present a business case for it.

The digital automation of your procurement processes looks at 4 key areas:

  1. Automating the future - why automation is a critical factor for business processes, especially procurement.

  2. Procure-to-pay - an outline of the P2P process and why it needs to be automated.
  3. The tools to help - there are a number of options available when it comes to P2P software solutions. What should you be looking for and what are the typical limitations?

  4. Building the business case - how to achieve executive buy-in, by focusing on specific business pain points and the P2P solution.

What it comes down to is this: if you have a procurement process in place then that process needs to be automated. Not only will it ensure that your business remains competitive, but you’ll optimise your spending without hiring more people or making a huge IT investment. You can also work better and faster with suppliers, while ensuring spending is well controlled.

In the end, automating your procurement processes is not merely a nice option it's a necessity. If you want your company to be competitive in a digitally transformed business future, automation is the only way forward. It means that not only will your business benefit from a streamlined, efficient process, but you'll be freeing up valuable internal resources for decision-making and business strategies.

 

DOWNLOAD THE WHITE PAPER