LONDON--(BUSINESS WIRE)--May 17, 2018--SpendEdge, a global procurement intelligence advisory firm, has announced the completion of their most recent whitepaper on the need for robotic process automation in procurement. Robotic process automation (RPA) plays a key role in enhancing operational efficiency and cost savings of an organization.
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Robotic Process Automation- The Next Big Thing in Procurement (Graphic: Business Wire)
Implementation of robotic process automation (RPA) applications help businesses in saving significant amounts of time and money. It also plays a major role in automation of transactional procure-to-pay processes and in executing bidding transactions by leveraging systemic controls and well-defined business rules.
In today’s competitive business scenario, it is essential for every organization to automate their procure to pay processes (P2P) as they are highly transactional in nature and require high investments of time and resources. Additionally, RPA applications are capable of automating most of the procurement tasks by reducing human touchpoints and enhancing order management. This has prompted several firms to adopt and implement such technologies to further enhance the efficiency of their procurement processes.
According to the procurement experts at , “When correctly implemented RPA can be used to automate multiple procurement processes to enhance profits and free up valuable time and resources, thereby enabling employees to focus on more strategic initiatives.”
The following are a few impacts of implementing RPA:Accelerate data-driven insights and actions – Robotic process automation offers detailed data-driven insights and helps procurement managers in obtaining the desired outcome. Identify financial risks – RPA plays a key role in the area of risk management. These applications can identify the changes in risk exposure and determine their causes. Maintain inventory levels with little efforts – Bots can be programmed to constantly monitor inventory levels and notify procurement officials when the levels are low. To read more,
Download the complete whitepaper on robotic process automation here:
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