Introducing Intelligent Workflows

Today, we are excited to launch Intelligent Workflows, our state-of-the-art procurement orchestration tool to help you gain complete control over your purchasing processes. 

Our research shows that over 1,500 hours are wasted per year on manual procurement processes and 70% of companies blame supplier risks on poor visibility over their purchases. These lead to maverick spending and a lack of compliance. 

Intelligent Workflows has been created in direct response to these inefficiencies, plus market and customer feedback. Our first wave of full deployments have already shown to halve the time taken to process a request, automate 70% of otherwise manual steps in every approval, and decrease maverick spending on tech by 33%.

What Intelligent Workflows delivers:

• Transparency: Granular visibility into all ongoing purchases, renewals and intakes.
  
  
• Simplification: Easy-to-build customized workflows and frictionless intake requests that accelerate and integrate into any existing procurement process
  
  
• Control: Automate accountability and tasking of stakeholders across all complex procurement workflows
  
  
• Tracking: Capture all purchasing documents and approvals in one consolidated place for streamlined compliance, reducing any maverick spend

Check out Intelligent Workflow's class-leading features, and how they benefit you:

Total request visibility

Capture and track all requests across your organization to reduce maverick spend and ensure purchasing compliance. 

• Track the progress of every company request and task, to stay ahead of any bottlenecks and inefficiencies
• Ensure compliance with a clear request audit trail of every approval, document, task, and comment associated to the request

Workflow Builder

Easily and fully customize your purchasing workflows with our no-code builder.

• Edit the different steps and conditions to enable intelligent routing 
• Easily assign tasks to different stakeholders, whether an internal approval or Vertice negotiation

Stakeholder Accountability

Ensure company wide adoption and efficiency with a full granular view of all purchasing tasks in one location.

• Take away the manual process of approval through automated approval tasks and alerting
• Equip each stakeholder with the relevant information they need to make quick informed decisions

Automated Workflow Routing 

Reduce bottlenecks and accelerate your purchasing with parallel approval streams.

• Automatically reroute workflows dependent on custom criteria, such as budget thresholds
• Intelligent rejection handling can auto-return any requests that don’t fit your business requirements or other criteria, meaning you only deal with the requests you need to

Communication Centre 

Create a seamless communication channel for every request.

• Comment on each individual request to discuss reasons for approval and blockers
• Mention others to notify them of any changes or information needed

Seamless integrations 

Get all that potential without reinventing the wheel - drive full procurement orchestration by integrating with existing processes.

• Start your intake request in ticketing systems such as Jira and Slack
• Integrate with existing tools at each step of the review, such as legal and security tools

‍

Why are these benefits worth pursuing and investing in?

We recently conducted global market research across 300 companies, investigating firstly how advanced their procurement processes are, and secondly, those same companies’ performance across key metrics. We then mapped the results to create a world-first ‘Procurement Impact Report’. 

And we discovered a clear correlation - advanced procurement processes drive business performance.

Those businesses that have introduced automation, centralization and frictionless approval workflows to their procurement processes were characterized as:

• 29% more efficient
• 22% faster to market
• 24% more able to implement new ideas and initiatives
• 21% better at maintaining consistent compliance
• 22% more in control of cash flow
• 22% more adherent to budget

And, perhaps most interestingly, these businesses’ perception of their procurement teams was 32% more positive. 

It is clear that advanced procurement processes - such as those enabled by Intelligent Workflows - enable innovation by equipping teams with the tools they need, under supervision, quickly and cost-efficiently. 

Intelligent Workflows has also been shown to reduce the time taken to process a request by 50%, leading to additional average contract savings of 15%, and decreases maverick spending on tech by 33%.

‍