Managing Your Procurement Documents at Your Shared Services Center
When you consolidate your company’s procurement functions through shared services, many things become easier – but managing your documents isn’t one of them. Proposals, vendor lists, quotes, contracts, purchase orders, and invoices can easily get out of hand – especially when you factor in the high volume of transactions that a shared service center completes. But a digital archive makes things much more straightforward.
At IntelliChief, we’ve designed a digital document storage system that’s perfect for centralized procurement. Specialists can keep all of their content on hand, instantly retrieving it whenever it’s needed. And, they can have their documents electronically delivered to other members of their team, helping shared services work faster and more efficiently.
How Electronic Document Management can Reduce Your Shared Service Costs
Most companies move procurement to shared services to help cut down on costs. And while streamlining your purchasing processes is a great place to start, technology can help you achieve even greater benefits.
Because procurement is so heavily document-oriented, your team could spend the majority of their time searching for paperwork. Meanwhile, the team that originally requested the purchase is left in the dark.
With your documents electronically archived, however, your procurement team can spend less time sorting through their files. Instead, they’ll be able to spend more time negotiating discounts, evaluating vendors, and strengthening your supply chain. And, once a purchase has been made (and the products received by your team), you’ll be able to pass your data over to Accounts Payable for immediate payment. No more re-entering the same transactional information into your ERP or re-confirming the details of your contract, just to process an invoice.
Automating Your Procurement Workflows
With IntelliChief’s automation software, your procure to pay workflows – like sending purchase requisitions to a manager for approval – become significantly faster.
Traditionally, you’d have to email or hand-deliver your documents to the next individual that needed them. But, with our document routing software, projects can be handed off instantaneously and you can track where they go. Each person in your procurement workflow is notified when there’s something that requires their attention, and when they’re done, the documents are electronically delivered to the next person. No more costly – or frustrating – delays.
There’s also the advantage of retaining your process-specific expertise as your organization grows. With IntelliChief, you don’t have to train new procurement specialists on routine practices, like what to do about a price exception on an invoice. AP can route that document directly to a buyer automatically when a price on the invoice doesn’t match the PO. Our solutions are implemented once and used for years, helping you ensure the long-term standardization of all your processes.
Increased Visibility Into Your Company’s Spend
Every company needs to know where their money is going. But, when procurement is handled at a shared service center, it can be challenging for HQ to have real-time visibility into their spend.
With IntelliChief, everyone – from your CFO to your business process optimization team – can see how every dollar is spent, and how every supplier is performing through our powerful reporting and analytics application. You’ll also be able to see where your procurement team is running into obstacles, helping you increase productivity across your shared service center.
Make your Shared Service Center’s Procurement Department More Productive
Ready to explore a better strategy for shared procurement services? Contact IntelliChief today. We can help you take the next steps toward a faster, more effective future with our document management and workflow automation software.