Invenio at eWorld London, 2014
It goes without saying, it has been a tough few years for the procurement and finance departments. Especially during the recession. The focus within organisations turned towards the finance and procurement departments to significantly reduce costs within all areas of the business. We have said this before, ‘Time is money’ and nothing could be truer than in the procurement and finance functions. It still remains in many organisations that processes and systems are very manual, this can be a huge problem. It can mean time delays, manual input errors and frustrations for those involved. We still see these challenges in the adoption of an eProcurement solutions within organisations today:
- An inability to integrate with existing ERP and Procurement systems
- Complex and unintuitive user interface
- An inability to on-board suppliers (in large numbers)
On a positive note, we can now see that suppliers are more flexible and willing to work alongside organisations to help them achieve their goals. This opens up a new collaborated working environment which can save organisations time and money. This is where Invenio’s P2P tool comes in. It can reduce manpower time from 80% to just 20%, how does it do this? By swapping the work load onto the suppliers.
Here is an example of a typical scenario:
Now flipped over to your suppliers:
Account Director, Kedar Patwardhan and Program Manager, Jayawant Patil recently spoke at the eWorld Purchasing and Supply Conference. Both Kedar and Jayawant have a wealth of experience in the procurement sector. Kedar gave the delegates an insight into the reasons why SAP users have avoided a new procurement solution and how Invenio’s P2P solution can overcome these.
- It’s too much work: Vendor self-service, moving the admin load to the suppliers.
- I hate these SAP screens: User friendly and mobile application with minimum data entry fields and clicks.
- Can I spend the money I don’t have? No, it is tightly integrated with the budgeting process, it can stop commitment and invoice posting if there is no approved budget.
- But I didn’t approve this: Easy to understand and easy to manage workflows with set approval levels and audit trails are in place, so that no document can be posted without prior approval.
- Am I choosing the right solution? Significantly cheaper than other solutions and fully integrated into your existing SAP solution.
Thanks to Kedar and Jayawant, for hosting such an informative session! If you missed the session on the day, or did not attend the event and would be interested in viewing the presentation, you can register for our webinar here.