Procure to pay automation – Top priority for large enterprises
Founder, Director of Avaali Solutions Pvt Ltd, Ms. Srividya Kannan’s interview published in aninews on the future of the IT Industry.
Procure to pay automation – Top priority for large enterprises.
The procurement function has gone beyond cost savings, to now being as a key lever for competitive advantage and to build resilience within enterprises.
The pandemic has given enterprises significant learnings and opened them to a world of opportunities to optimize inventory, deeply engage with suppliers, reduce costs, and manage risks via transparent and automated processes.
Digital is fueling significant transformation in this process eliminating paper, accelerating cycle time to the process, and enabling faster decisions. Good supplier collaboration platforms enable superior supplier engagement, significantly improving visibility between enterprises and their suppliers and facilitating faster turnaround time. With invoice automation, enterprises can get early visibility to liabilities, eliminating risks of duplicate invoices and ensuring faster vendor invoice management (VIM) and payment.
“Enterprises have witnessed anywhere between 35 per cent-50 percent reduction in process cycle time while bringing down procurement costs by at least 10 percent,” said Srividya Kannan, Founder-Director of a Bangalore headquartered company that has done over 120 plus transformations of this nature for large enterprises.
“Avaali’s expertise in OpenText VIM support and upgrade helped us manage our VIM project efficiently, stay compliant, reduce downtime and keep running things smoothly,” said Rahul Yadav, Head – Digital & Technology Business Solutions – Asia Pacific & Middle East, Compass Group.
To learn more about Avaali, please visit www.avaali.com