How procurement teams are driving innovation through process automation
Rapid advancements in digital technologies allow purchasing to use future-proof automation solutions to drive corporate innovation through process automation. A key to achieving such process automation is the implementation of digital technologies that enable teams to achieve and exceed their potential. While these technologies range in their availability and implementation cycles, purchasing automation tools are readily available now. Stifled by an outdated way of working, purchasing workflows too often rely on manual tasks. The Netfira Platform allows purchasing teams to drive innovation and initiate the digital transformation in their company.
Purchasing lacks digital processes
Industry 4.0 has seen the rapid automation of traditionally manual and labour-intensive processes. Despite this, purchasing departments are characterised by outdated ways of working. The lack of technical standards and automated workflows in transactional procurement places companies at a disadvantage compared to competitors backed by the process automation enjoyed by digital procurement teams. The role of buyers includes manually requesting, checking and comparing documents such as purchase order confirmations and invoices. These activities are time-consuming, error-prone and prevent individuals and teams from focusing on strategic and value-adding tasks.
Challenges of implementing digital tools
There are many challenges procurement teams face when adopting digital tools to automate their processes, including:
1. Different ERP systems
While Oracle and SAP remain market leaders for ERP software, there is an increasing number of options on the market that challenge the major providers and serve specific niches. In addition, it is common for buyers and suppliers to use different ERP systems, leading to media disruptions and interface problems between business partners.
2. Unclean data
Dirty data stretches from misspelt vendor names to deviations in units of measure and is a challenge faced by procurement teams every day. Ensuring clean data is a crucial step towards process automation and an essential way to gain a competitive advantage. Read more about How to increase data quality in procurement.
3. Difficulties connecting business partners
Despite the best efforts of EDI software providers to create portals and platforms that digitally connect business partners, many suppliers and vendors continue to rely on traditional, time-honoured processes. This places emphasis on procurement teams to implement digital tools that seamlessly integrate with the existing processes of their business.
The benefits of the Netfira Platform
The Netfira Platform allows organisations to automate document processing tasks and free employees of manual, repetitive and error-prone activities. The artificially intelligent cloud solution turns unstructured data into structured data while allowing a fast, uncomplicated and cost-efficient electronic supplier connection with all significant suppliers. In doing so, the Netfira Platform guarantees a bidirectional digital exchange of data and documents with business partners regardless of their processes and ERP systems. Purchasing can thus increase its efficiency, optimise its processes and reduce costs through process automation. Buyers are afforded more time for strategic and value-adding tasks leading to added value to purchasing departments and the entire organisation.
Pfleiderer Case Study
Learn how Pfleiderer successfully digitised its procurement through process automation.
Purchasing departments are met with a flood of order confirmations and need to manually enter this important but often unstructured information into their system. Intelligent digital solutions help automating this process.
The Netfira Platform offers a unique alternative to OCR solutions. The cloud-based SaaS solution processes data of all document types quickly and reliably.
There is a dramatic increase in order confirmations as the ongoing disruption is forcing suppliers to provide multiple order confirmations for each purchase order. Purchasing needs to implement intelligent solutions allowing automated processing of order confirmations.
Trending articles What is a purchase order confirmation? Whenever a buyer places an order, a purchase order is issued. The supplier in turn generates a purchase order confirmation to confirm the