Supply Chain Digital Magazine March 2023 | Page 103

The Procurement Automation Processes
TECHNOLOGY

The Procurement Automation Processes

Purchase Order Processing
Purchase Requisition
Invoices and Payments
Vendor Management
Contract Management receive a recommended course of action . When a decision is made , the technology then writes back to business systems to change purchase orders and update records . Supplier performance issues are resolved in a fraction of the time . Beyond simply automating tasks , this makes it possible to keep a digital memory of every decision made – capturing valuable institutional knowledge and increasing the team ’ s ability to automate more decisions in the future .
How is digital innovation changing procurement ? Procurement teams rely on data from customer orders , safety stock , total cost of ownership , suppliers ’ on-time in-full performance , and other sources . With so many time-sensitive decisions to be made , technology that makes it easier to harness all of this data is transforming how teams strategise and collaborate .
Technologies that digitise and automate decisions can break down silos across the organisation that hide process gaps . They provide the visibility required for informed actions and better , faster decision making – not just in procurement , but across

“Technology makes it easier to harness data that ' s transforming how teams strategise and collaborate ”

JENNIFER CHAPLAIN , SOLUTION ENGINEERING & CUSTOMER ENGAGEMENT PRINCIPAL , AERA TECHNOLOGY supplychaindigital . com 103