Approval Workflow: Benefits for Buying Organizations

For buying organizations, one of the most challenging aspects of managing complex purchasing projects involves trying to get (and keep) a high number of stakeholders on the same page. It’s not just about maintaining open lines of communication: without a firm grasp on what stage a project has reached at any given moment, stakeholders are left in the dark as to what is happening – and more importantly, what is needed from them to keep work moving forward.

This is where a well-defined Approval Workflow process as part of a complete e-procurement solution can provide the automation tools that buying organizations need to transform their procurement processes for the better. In this article we will review some of the primary benefits of Approval Workflow for buyers.

Ability to design your own workflow

Every procurement project is different, just as every buying organization has its own internal structure that defines how approvals are handled. To handle the complexities of major projects and to adapt to new stakeholders participating as a project moves forward, buying organizations need the ability to craft custom workflows to ensure buyers can connect with the right stakeholders at the right time. With an e-procurement solution that includes an Approval Workflow module, purchasing staff can design their own custom workflows, or simply recreate an existing manual process, including sequential or parallel flows, to be sure that every person who needs to sign off at any stage of a project is fully in the loop.

Reduce risk

Approval Workflow modules improve project security by clearly mapping out who needs to respond to an approval request and when the approval needs to be completed, helping to avoid missed deadlines or incomplete approvals. Because Approval Workflow modules integrate seamlessly with other modules as part of an e-procurement solution (including vendor certification, bid distribution and evaluation modules), buyers can easily manage major projects from one central location and design the workflows they need to ensure project security is maintained.

Improve synergy with all stakeholders

With a custom approval workflow that meets the particular needs of a buying organization, all stakeholders involved in a project can benefit from improved synergy and alignment during the course of a project. In a nutshell, a well-defined Approval Workflow leads directly to improved communication, less downtime and shorter time-to-revenue for buyers, generating value far beyond a streamlined approval process.

A robust Approval Workflow module represents one important piece of a comprehensive procurement management solution that can help simplify the entire purchasing process. After reaping the benefits that come with Approval Workflow, buying organizations will wonder how they ever managed projects without it!

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