Procurement can be a lengthy and costly process for your business—but document automation can help minimize inefficiencies and maximize your team’s productivity. When you’re able to onboard new vendors with ease and keep the relationship successfully moving forward, you save valuable time and money while improving the buyer/seller relationship.
Here are three ways how document automation can improve your procurement process:
Close deals faster. Once you’ve found the right vendor, you shouldn’t let a lengthy, unorganized contract process get in the way of closing your exciting new deal. With contact automation, you can take control of your contracts with full visibility, audit trails, and automated reminders. When both parties are ready, legally binding digital signatures can be acquired from any device, all within the secure application. This allows you to focus on building up that buyer/seller relationship, rather than getting hung up on the details of a contract.
Simple, streamlined collaboration. If your business doesn’t operate in the same geographic location as your vendors, it can hinder communication with them while negotiating PO’s or completing projects. However, with document automation, collaboration becomes simple.
Multiple collaborators can route, revise, and approve documents online. There’s no need for follow up emails or wondering what the status of a task is when automatic email notifications keep the process moving forward for you. When the right parties always have access to the necessary documents, timelines can be accelerated—meaning you and your vendors can provide more value to each other, faster!
Send, receive, and track PO’s with ease. With automated workflow management, you and your suppliers can both have full visibility into pending PO’s and invoices. Permission-based access allows approved parties to easily track the status of a PO, send deadline and payment reminders, and confirm when an order is completed.
This is all possible on one secure platform—without having to search through endless email chains or messy paper trails. Centralized access allows everyone to be on the same page, increasing efficiency for both you and your vendors. Keep business moving with fewer errors and minimized downtime between when you send and receive PO’s.
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With document automation, you can optimize your procurement process for efficiency. This enables your business to close contracts quickly, increase remote collaboration, and handle PO’s without the usual headaches. Ready to start automating? We’re here to chat about our solutions for your business.