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SigniFlow for Procurement Teams: Built to give you total control

Procurement teams need the right tools get purchasing procedures rolling, quickly and methodically, with maximum transparency and accountability.

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SigniFlow for Procurement Teams

With great responsibility comes great pressure. Tasked with making and keeping to purchasing policies and procedures to improve organisational efficiency, procurement teams must have total supervision and control over business procurement comings and goings at all times.

And, as all hardworking procurement teams can attest: There is never a quiet day in the procurement department.

There are, however, a host of challenges and barriers to efficiency that crop up daily – such as:

  • Signatories who are almost impossible to track down;
  • Important documents that go MIA ahead of a big audit, and
  • Other departments’ jobs being stalled because they cannot immediately access certain records (such as POs, GRVs, quotes, etc) when they need them.

Hitches like these can severely stop the smooth running of procurement processes and, in turn, severely damage the company’s bottom line – both directly through delayed delivery of service, and indirectly, as a consequence of lost rebate and discount opportunities.

Given that procurement is often responsible for up to 70% of an organisation’s revenue, there is a lot of weight on this department’s shoulders.

“Procurement and supply management involves buying the goods and services that enable an organisation to operate in a profitable and ethical manner.”

CIPS.org

A hundred hats

Procurement people everywhere: We feel your pain. It cannot be easy wearing so many different hats. One minute you’re a procurement officer, the next you’re a tradesman, negotiator, contract manager, a supplier performance monitor, a risk assessor, even a blooming party planner…and then, when something goes wrong – you’re the scapegoat!

Breathe.

SigniFlow for Procurement Teams was built for you. It was designed to give you total control over your procurement processes – whatever hat you happen to be wearing – by arming you with the tools you need to proactively carry out, manage and delegate procurement processes.

Our eSignature document workflow automation solution will help you quickly and confidently deliver everything that is expected of you:

  • Transparency
  • Sustainability
  • Cost savings
  • Risk management
  • Control & visibility of spend
  • Compliance with policy

And you won’t have to jump through hoops to deliver it all.

Easy authorisations: Instant signatures and approvals

Most procurement processes start with getting authorisation from the
relevant parties.

But, given everyone’s busy and diverse schedules, you end up running around
trying to get the required approvals from the right people at the right time –
and end up feeling like pulling teeth would be easier.

(Add physical paper and roving files to the mix, and you have a recipe
for disaster and confusion.
)

SigniFlow’s document workflow automation solution allows you to stay put,
simply upload the document you need signed or approved, and send it to the
relevant person/people to take the required action immediately. The authorised
document is instantly returned to you – and you can move on.

Designed to get your documents approved and returned using minimal time and
effort, SigniFlow workflows are easy to set up, and come with a host of
features to optimise every individual workflow, or automate multiple ones.

In summary:

  1. Log into your SigniFlow account
  2. Click ‘Create New Workflow’
  3. Upload the document you need signed or approved
  4. Select the recipient
  5. Add the required fields with a simple drag-and-drop tool – or just select a
    pre-set template
  6. Send 
  7. The signatory is notified and taken directly to the document to review, action
    and send back

Voila! No more delays, frustration and wasted energy.

 

Fast, efficient audits: Instant signatures & approvals

Audit. The very word is apt to strike stress into the heart of procurement professionals. Because audits can be seriously complicated, energy-sapping, and time-consuming.

They can be…but they don’t have to be.

Imagine no chaos. Imagine a single, organised document repository that is secure, yet accessible to the right people. A central digital portal that contains all the relevant records by supplier, customer, or department – with supporting documents – where the relevant files can be accessed using intelligent search in just seconds.  

Meet SigniFlow Portfolios. This mighty feature has proven to be a magic potion for procurement and finance teams everywhere. It helps these crucial business units organise their processes, and not only survive, but crush, monthly audits with their sanity totally intact.

With SigniFlow Portfolios, there is no more physical pulling of files from an abyss of paper. There is no more chasing different people to track down different documents. No more doubt. No more disorganisation.

Now, procurement teams can store sign offs of contracts, invoices and reconciliations within catalogued digital portfolios, together with supporting documents for ease of access. This digital organisation assists auditors with risk assessments and detailed reports – making auditing a breeze for both procurement teams and auditors.

Using our Portfolios feature, processes that used to require hours to satisfy month-end reconciliations, can now take mere minutes.

No more flushing your valuable time down the drain.

Internal collaboration: Portfolio sharing and access rights

Procurement is a central business unit, which inevitably means the work they do affects and involves other teams. And to ensure the wheels of the business turn smoothly, everyone needs to be on the same page.

But that cannot happen when there are a bunch of different pages flying about.

SigniFlow Portfolios allows procurement teams to grant access to the necessary individuals, teams or departments, so that everyone has the same insight, access and information as each other. Different levels of access can be configured, and access can be revoked as needed.

So now, it is no longer a case of broken telephone, with each relevant department operating within their own silo.

Portfolios can be set up per supplier, per creditor, per staff member, etc and managed using an organised, aligned approach that enables constant oversight, collaboration, order and audit logs. In this way, procurement teams are instantly accountable, ready to answer to any given department or individual, at any time.

Sometimes, it’s good to have all your eggs in one basket.

SigniFlow for Procurement Teams: The benefits

  1. Risk management and preparing the unexpected: Transparent procurement systems reduce an organisation’s exposure to risk. With SigniFlow, procurement leaders have full visibility of their supply chain.
  2. Cost reduction: SigniFlow allows for the proactive optimisation of procurement processes to achieve significant cost savings.
  3. Automated checklist: SigniFlow portfolios essentially gives procurement teams a checklist that allows team members to follow the same steps every time, even if they have not historically been involved in the processes.
  4. Approvals: SigniFlow’s document workflow allows procurement teams to get go-ahead or rejection on important procurement elements, such as purchase requests, contract proposals and quotations.
  5. Quality procurement management: With full oversight over the full procurement process, acquiring quality goods and services from preferred vendors within a stipulated budget is simple.
  6. Meet deadlines: With features such as reminders, urgency levels and audit trails, procurement teams can be sure to keep processes flowing according to timelines.
  7. Compliance: Good procurement management enables organisational compliance. With SigniFlow, every action taken, on every document, is recorded, with a time and date, making verification, audits and accountability easy for everyone involved in the process.
  8. ISO: It’s just easier to implement and comply with ISO requirements when processes are done via auditable SigniFlow porftolios and placeholders.
  9. Supplier management: Having oversight over individual suppliers at a glance helps procurement teams assess their viability and compliance with company policy and contracts.
  10. One centralised procurement portal: Having a mix of different procurement systems seriously slows things down – not to mention opens the team (and company at large) up to a whole lot of slipups, inaccuracies and lost opportunities.

REFERENCES

  1. Chartered Institute of Procurement & Supply (CIPS.org) – What is procurement?
  2. SigniFlow for Procurement Teams
  3. SigniFlow for Sales Teams
  4. SigniFlow for Finance Teams

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Disclaimer: The information in this BLOG is provided for general informational purposes only and is the opinion of the author only. No information contained in this blog should be construed as legal advice from SigniFlow or the individual author, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this blog should act or refrain from acting on the basis of any information included in, or accessible through, this blog without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue.