Correct procurement processes with a dedicated set of automations
A package of automations is designed to achieve specific business outcomes, instead of just accomplishing a single task. With a set of multiple automations affecting the same business area, you’ll be able to see strategic outcomes and meet new performance benchmarks. One automation may not have a big impact on your business — but a set of automations will.
ProcureStream is an automation package that fixes common problems and supports procurement processes by correcting data throughout the procurement process. It makes corrections that facilitate matches between purchase orders, vouchers, and invoices. If you have match exception issues and they aren't being resolved in time (or you're spending a lot of time on them), this solution is for you.
- Automations that edit purchase orders
- Automations that edit vouchers
- Automations to manage vendor queries
- Comprehensive automation testing and process analysis
- Customized care during and after automation deployment
All the way from purchase order to payment, ProcureStream makes sure that vendors get paid faster, and eliminates manual processes that slow things down.
- First, corrections are received through vendor purchase order acknowledgments.
- As the vendor changes the status of the order, updates are added automatically to the purchase orders.
- Next, the product is delivered and the receiver is invoiced. These invoices sometimes have mismatches in field mapping, shipping information, or tax information that need correction within the voucher.
- Final invoices sometimes have additional price discrepancies, which can be automatically updated or routed for further dispute.
It also helps vendors keep track of the payment status of their invoices, which enables continual communication and saves associates from manually searching through invoice statuses when vendors call.
After implementing ProcureStream as part of an overarching supply chain initiative, a national healthcare nonprofit saw the costs of purchase orders decrease by 42% over five years. They also experienced a 267% increase in purchase order lines in the same five years, and purchase order exceptions decreased from 11,000 to 500 in only 18 months.