Are you struggling to demonstrate hard dollar savings? Without clear visibility into key metrics like request processes, spend management, supplier performance, and asset lifecycles, it’s hard to make informed decisions and improve operational efficiency.
Our KPI dashboards help you achieve greater efficiencies, lower costs, automate processes, predict trends, and optimize supplier interactions.
Key Benefits
Enhanced Efficiency and Cost Control
Streamlined procurement processes reduce manual errors and expedite cycles, leading to significant cost savings and resource optimization.
Improved Visibility and Compliance
Integrated workflows provide real-time insights into IT expenditures and ensure adherence to regulatory requirements, fostering transparency and accountability.
Strategic Decision-Making and Innovation
Better alignment with business objectives and enhanced collaboration between IT, finance, and procurement teams drive informed decisions, innovation, and a competitive edge.
Source-to-Pay metrics that identify wasted spend and inefficiencies
Streamlines the request-to-procure process by automating and routing repetitive tasks to cut processing times, lower operational costs, and improve accuracy.
Reduces waste and improves cash flow by optimizing purchases through targeted sourcing and effective asset redeployment strategies.
Enhances negotiations by optimizing contract terms and conditions, resulting in greater cost savings and more robust supplier relationships.
Groups similar goods and services to optimize processes, build stronger supplier relationships, and achieve better pricing through competitive sourcing.
Centralizes purchasing activities to ensure compliance with purchasing policies, secure more competitive pricing, enhance operational efficiencies, and build stronger supplier relationships.
Consolidates tail suppliers with higher-performing partners that enhance operational efficiencies, reduce costs, and strengthen collaboration.
Optimizes inventory to reduce associated costs, including storage, insurance, and depreciation, resulting in better cash flow, less waste, and higher profitability.
Monitors and manages inventory to reduce losses from theft, damage, or errors, avoiding replacement purchases and boosting profitability.
Automates intake, validation, and approvals to reduce manual interventions, enabling AP teams to handle higher volumes with fewer resources, leading to fewer discrepancies and lower overall processing costs.
Key Features
End-to-End Visibility
Seamlessly connects sourcing, procurement, and payment processes into a single, unified workflow for comprehensive management and visibility.
Advanced Analytics and Reporting
Provides real-time insights and detailed reports on IT expenditures, supplier performance, and procurement efficiency to support data-driven decision-making.
Automated Compliance and Risk Management
Ensures adherence to regulatory requirements and internal policies through automated checks and controls, minimizing risks and enhancing accountability.
Case Study:
How a Manufacturer Saves$1.4 Million Annually withServiceNow's Source-to-Pay
The Challenge
In today’s modern, digitized economy, businesses must distribute, analyze, and interpret transactional data effectively to enable leadership to make real-time, pinpoint adjustments in strategy and operational cadence. Deferred, misunderstood, or improperly shared data can lead to financial losses and customer dissatisfaction. A customer sought a solution to unify geographically dispersed stores, offices, and executive-level divisions under a framework that would allow leadership to interpret and understand opportunities for process improvement, cost savings, and tighter operational control.
Key stakeholders often lacked awareness of how data from other departments could unlock actionable business intelligence, influencing tactical and strategic decision-making within their own areas. Historically, departments focused solely on their financial performance, ignoring how activities in other divisions impacted their bottom line. The customer needed a way to capture, extract, synthesize, and distribute data that was verifiable, precise, and refreshed in real-time, eliminating a silo culture that emphasized narrow accountability over enterprise-wide collaboration.
The Solution
Recognizing the need to connect information with intelligence for quicker, smarter, and more profitable decisions, the customer turned to ServiceNow Source-to-Pay. We leveraged ServiceNow’s capabilities to define, develop, test, implement, and maintain an optimized, scalable solution for the customer’s enterprise. This solution created a universe of accessible, actionable data that increased ROI while accommodating exponential growth.
With a focus on understanding the customer’s needs, challenges, and goals, we leveraged our extensive Procurement and Supply-Chain expertise to provide a right-sized solution fitting the customer’s scale. By combining ServiceNow Source-to-Pay with the platform’s extensible capabilities, we delivered a tailored framework offering unparalleled access and control to designated users. For the first time, customer leaders could record, interpret, and distribute critical transactional data in real-time across the enterprise, maintaining platform best practices and simplifying the process of applying enhancements and upgrades.
The Outcome
Implementing ServiceNow Source-to-Pay transformed the customer’s procurement processes into a fully integrated enterprise solution. Key benefits included:
- Enhanced Efficiency and Cost Control: The streamlined procurement processes reduced manual errors, expedited cycles, and optimized resources, leading to significant cost savings.
- Improved Visibility and Compliance: Integrated workflows provided real-time insights into IT expenditures, ensuring regulatory compliance and fostering transparency and accountability.
- Strategic Decision-Making and Innovation: Better alignment with business objectives and enhanced collaboration between IT, finance, and procurement teams drove informed decisions, fostering innovation and a competitive edge.
By breaking down silos and promoting a culture of collaboration, the customer achieved better process control, cost savings, and a more agile, responsive operational framework, ultimately driving financial health and competitive advantage.
OUR PROCESS
Our approach ensures you achieve optimal efficiency, cost savings, and strategic control.
Step 1: Assessment and Setup
- Conduct a thorough assessment of your existing budgeting processes and systems.
- Collaborate with your team to understand specific needs and objectives for IT budgeting.
- Develop a tailored configuration plan to align ServiceNow with your budgeting requirements.
Step 2: Implementation
- Seamlessly integrate ServiceNow with your existing financial and IT systems.
- Configure workflows and dashboards to fit your desired IT Budgeting processes.
- Ensure accurate migration of historical budgeting data into the new system.
Step 3: Knowledge Transfer
- Provide detailed training sessions for your finance and IT teams on using ServiceNow for budgeting.
- Supply easy-to-follow documentation and user guides for ongoing reference.
- Hands-on Support: Offer hands-on support during the initial phase to ensure smooth adoption and usage.
Step 4: Co-Pilot Your Success
- Regularly monitor system performance and budgeting processes to identify improvement opportunities.
- Continuously optimize workflows and processes based on feedback and evolving needs.
- Transform your operations, resulting in increased efficiency, better decision-making, and substantial cost savings