Intelligent Workflow Solutions

The fast-paced, technological business environments of the modern day mean that manual processes no longer just slow you up - but actively restrict your capabilities.

Procurement is at the center of this - being a function that can directly impact business growth rates but one where automation is rare, stakeholder buy-in is difficult to achieve and process and project visibility is virtually non-existent. This creates a situation where confusion and frustration are common, and avoiding the official procurement process is seen as more beneficial than actually using it. 

As a result, maverick spending increases, procurement visibility and cost control decreases, and longer-term strategic planning and implementation of technology, facilities and operations that enable business growth is far more difficult to achieve. Companies therefore can’t keep pace with their competitors and lose ground in their marketplace.

Intelligent workflow solutions provide an answer. Advantages of procurement workflows include the leveraging of automation, AI, and data insights to optimize operations and improve decision-making. For procurement - the advantages of procurement workflows include faster approvals, reduced errors and improved visibility. Vertice’s intelligent workflow automation tools empower businesses to streamline their processes and maximize efficiency.

What are Intelligent Workflows?

Intelligent workflow solutions are advanced, automated processes that integrate AI, analytics and real-time data to improve decision-making, process efficiency and stakeholder engagement.

Unlike static workflows, intelligent workflows can adapt to changing business requirements and provide actionable insights to enhance outcomes. They can be customized to the varying procurement needs of a department, rather than at business level only, and can be integrated into existing processes and tech stacks to enable a seamless transition that fits into a current working mentality rather than brute-forcing a new way of doing things. 

Advantages of Procurement Workflows with Intelligent Automation

Intelligent workflow automation has a myriad of benefits that put it above static workflows.

• Faster Approvals: Reduces bottlenecks with automated routing and decision-making.
• Enhanced Accuracy: Minimizes human error by automating repetitive tasks.
• Real-Time Insights: Provides visibility into procurement data to make informed decisions.
• Cost Savings: Optimizes vendor negotiations and prevent duplicate purchases.
• Scalability: Easily adapts workflows to meet the needs of growing teams.

Intelligent workflow automation also keeps stakeholders engaged in any process by setting timelines for responses, integrating with existing communication channels, and by providing clarity about responsibilities. So even when work is needed to be completed outside of the direct control of procurement teams, the intelligent workflow solution keeps the ball rolling. 

All of this has a tangible business impact. There is 70% less manual effort, meaning less chance of human error, bottlenecks or miscommunication. Maverick spending is also reduced by at least 1/3rd, the time it takes to process an intake request decreases by 50%.

The end result? Companies were measured to be 33% more innovative, 30% quicker to market and 20% more compliant, making the advantages of procurement workflows for business growth clear.

Vertice’s Intelligent Workflow Solutions

Whilst there are options on the market for procurement workflow solutions, nothing is as customizable, contains as much data analysis, or is as intelligent as Vertice’s Intelligent Workflows.

The definitive streamlined procurement system from the market leaders in SaaS spend management, this intelligent workflow solution helps finance and procurement leaders gain complete control over their purchasing processes. 

Intelligent Workflows enables this thorough providing:

• Transparency: Granular visibility into all ongoing purchases, renewals and intakes.
• Simplified functions: 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.
• Visibility: Track all purchasing documents and approvals in one consolidated place for streamlined compliance, and record all maverick spend.

Intelligent Workflow Automation in Action

The advantages of procurement workflows are clear to CloudHesive, who partnered with Vertice to implement Intelligent Workflows into their setup. 

Needing to demonstrate continuous robust compliance and tight vendor management practices to keep its SOC 2 Type 2 certification, CloudHesive also had to manage the procurement and utilization of tools through their CTO alone. The scale of responsibility  being put on a non-dedicated individual not only risked bottlenecks and miscommunication, but also increased compliance risk. 

“Ensuring compliance with specific regulations was a very painful process and relied on manual back-and-forth, which meant checks could easily slip through the cracks. It was vital for us to fix it, fast.” Patrick Hannah, CTO, CloudHesive.

By partnering with Vertice Intelligent Workflows, Patrick (and CloudHesive) was able to completely manage the entire procurement process solo, and include correct compliance checks at every step without additional manual input. 

With this in place, CloudHesive’s SaaS spending was brought under control, approval times were cut by 50% and new purchases achieved savings of 17% on average. Intelligent Workflows is now an integral part of CloudHesive’s procurement and compliance setup.

Key Features of Vertice’s Intelligent Workflow Tools

Intelligent Workflows revolves around the goal of gaining full control over your procurement. To achieve this, it focuses on these key features:

• Customizable Workflow Templates: With a drag-and-drag, no-code workflow builder, you can create, configure and change any workflow to match your specific needs.
• Centralized Granular Visibility: Understand the history and ongoing status of every purchase with a single-pane-of-glass interface that presents data in easy to digest formats.
• Intelligent Workflow Automation: Stakeholder accountability is guaranteed with intelligent routing and detailed, automated approval tasks and flows, and human error is reduced by removing manual steps.
• Track and Trace: Every document, communication, workflow direction and approval is tracked for each request in a full audit log to ensure compliance.
• Procurement Orchestration: Integrate your intelligent workflow solutions into existing third-party systems to ensure intake and approval tasks are efficient and streamlined.
• AI-Powered Insights: Leverage thousands of data points and benchmarks to make smarter procurement decisions.

Ready to experience the advantages of procurement workflows?

‍Explore Vertice’s Intelligent Workflow now.