For many businesses around the globe, success lies in the excellence of the procurement department. The procurement processes ensure that the businesses run like a well-oiled machine by creating and updating requisitions sheets or transmitting purchase orders daily. Implementing procurement automation will optimize the procurement processes to a high-performance level.
Procurement operations are often not performing at their best. Human errors and delays can cause costly hiccups in the business. Intelligent automation - RPA - will come to the rescue.
RPA can and will help. Automating the time-consuming, essential tasks will not improve the information flow of your procurement processes. It will also increase the company agility and resilience within the local or global supply chains.
Procurement automation automates manual, repeatable, and labour-intensive tasks, simplifying the procurement process, frees up valuable time, speeds up processing, and reduces errors.
Procurement automation is known to:
- increase productivity
- eliminate manual errors
- improve collaboration between departments and also clients
- remove approval bottlenecks
- act as a central repository
Better processes with procurement automation
Many business processes in procurement are prone to automation, but the most important you might consider for automation for a highly productive business are:
Purchase orders - Being a repetitive process, processing purchase orders is a perfect subject for automation.
Purchase requisitions – this internal workflow requires multiple approval stages, could be accelerated with automation.
Invoice approval – before sending any money to a supplier, invoices must be internally approved by the finance department. Invoices approval automation saves time and makes the approval process accessible from anywhere.
Keeping records – to stay compliant, it is a must to have complete and accurate records. Record automation can integrate your systems for automatically updated records and errors elimination.
Vendor management - Procurement departments can automate vendor selection to make it easier and select the best vendor. By automating the vendor management process, organizations can quickly identify and resolve grievances, forming a better relationship with the vendor.
Supply chain automation
As consumers and client bases grow globally fast, supply chains need to adapt by implementing intelligent and automated methods of information exchange, fulfilment and transportation.
Intelligent automation can be the perfect solution to get rid of time-wasting processes and unwanted errors.
The supply chain has a complicated structure, similar to complex living organisms. The most common problems the supply chains face these days are: trying to fulfil customer's expectations, keeping up with the global market, or choosing the best order-delivery channels.
The supply chain needs to be agile to keep up with the changes in global requirements. In times of uncertainty of the current international market, companies must be ready to fully benefit from business opportunities.
The benefits of automation
The complexity of the operations continues to rise, and the supply chain managers constantly analyze new ways to improve the processes efficiency, accuracy, and productivity.
So, how does intelligent automation help?
- Increasing productivity
- Decreasing operating costs
- Improving compliance
- Increasing the volume of product
- Improving accuracy
Automation is magic
Automation is about discovering new ways to transform repetitive and error-prone tasks into more efficient and less time-consuming jobs. There are three types of automation possible for the supply chain:
Back-office operations – the supply chain process implies dealing with various documents such as delivery orders, bill of lading, sea waybill, dock receipt, etc. Employees have to continuously store and process these documents, making it a prolonged process. With intelligent automation, businesses achieve end-to-end document automation.
Transportation automation – autonomous vehicles and drones are becoming more and more used in the supply chain processes.
Warehouse automation – cobots will work directly and collaboratively with human workers.
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