IDC urges better adoption and compliance by turning to Guided Procurement software.

Background.

Deep procurement expertise has long existed in companies with large amounts of direct spend and complex supply chain requirements — typically within large-scale and global enterprises. Now, it’s gaining recognition as a strategic competency that can bring significant value to most organizations, including those in the mid-market or with the majority of their spend in indirect purchasing. In the new IDC Spotlight, “The Value of Guided Procurement Applications,” sponsored by Airbase, IDC points out that, “the value of procurement resonates, as seen through driving improved efficiency, managing risk, ensuring sources of supply, enhancing cash flow, and delivering savings.”The problem.

For many companies, the process of managing purchasing requests and ensuring compliance with a corporate purchasing policy is loosely carried out by the finance and accounting team, typically under the purview of the controller. However, only now are the tools emerging to make it easy for any employee to quickly complete a purchase request and automate the approval workflow of any necessary stakeholder across multiple departments and functions. The new approach to spend orchestration (sometimes referred to as intake, guided buying, and guided procurement) offers control without having to spend huge amounts on legacy enterprise-grade software and undertaking major change-management efforts.

The solution.

Guided Procurement gives access to the key benefits of procurement without having to build a dedicated team. The Spotlight highlights Airbase’s powerful functionality, combined with its user-friendly design that encourages widespread adoption. “At its core, company spending is a complex collaboration problem. Airbase’s P2P software streamlines and automates the entire spending process without leaving any users or stakeholders behind,” the Spotlight states.

IDC insights.

Read IDC’s Spotlight, “The Value of Guided Procurement Applications,” to find out how procurement is being transformed to meet the needs of employee spending in a remote, fast-moving, risk-laden world. Download now!