E-Procurement systems are becoming more impactful as organizations are able to adapt to new software & technology. Procurement team tends to get confused while choosing the right e-procurement system. With Finly’s e-procurement system simplify the process of matching business docs purchase orders, invoices, and payments.
This article talks about the effectivity and the power of digital procurement systems in automating the entire procurement process.
Effective Document Management – Manage all your POs, Sales Order, GRN, Invoices, Delivery Challan, E-Way Bill from one single place. Finly’s e-procurement software has the ability to simplify the process of matching business docs purchase orders, invoices, and payments. Any request raised through e-procurement system must track and reconcile the docs received against that request.
Configure reminders & notifications to get notified and updated on every activity in the platform – Finly’s e-procurement system is highly flexible & configurable and allows you to customize multiple levels of approval-flow based on the organizational hierarchy. Multiple levels of approval stages can be configured involving various stakeholders like the procurement team, finance team to approve the request raised by an employee and be notified via email. The system should also be able to automate the notification reminder to approve or disapprove any pending requests.
Automate & streamline the process of managing vendor relationship – Maintaining a strong relationship with your vendors is one of the key ways for you to scale-up your business. Vendors can also be an important source of information, advice and trade credit. The main advantage of establishing a strong relationship with the vendor is that they can help deliver new products that help grab market share from competitors or provide you with adequate discounted prices. Finly’s vendor management software helps you to achieve a better and stronger relationship with your vendors by automating the vendor management process.
Customized reports for better insights into your business – As organizations adjust strategic investments with an eye toward capturing revenue growth, today’s CFOs need every advantage to help their businesses to make profitable decisions. With the help of FinlyFinance, finance leaders are able to make better data-driven decisions by tracking enterprise finance management with the help of financial process automation tool that better manages, control and analyze cash flow forecast, capture data, streamline processes, gain improved control over costs and risk, and ensure compliance.
Conclusion – Having mentioned all the above, Finly’s intelligent e-procurement system provides the finance teams with complete visibility and control on their business spends. Receive meaningful insights and powerful analytics on-time, strengthen your relationship with vendors and manage all your business docs in one single place.