Technology matters because every order matters. Based on data from a Hackett Group report, top-performing companies share a set of common practices, one of which is process automation.
Process automation enables faster responses to changes in the supply chain, internal customer preferences, the competitive landscape and business strategy. It eliminates paper-based processes, reduces cycle times and automates e-invoices.
In today’s business environment, where change is more likely to be externally driven and occur unexpectedly and rapidly, operational responsiveness is largely determined by how skilled the organization is at anticipating changes, quickly analyzing its potential impact, and swiftly executing a response. The speed at which the response can be implemented depends on the cycle times and level of automation of the processes involved. Automation makes it much easier to react quickly to external changes. Top-performing companies lay the groundwork for quick response by:
- Eliminating paper-based processes: Slow, error-prone, paper-based processes are being phased out in favor of electronic and web-based solutions, which enable more efficient workflows throughout the purchase-to-pay lifecycle
- Reducing cycle times: Processes are sped up by cutting out extra steps and simplifying approval steps. Top performers have shorter cycle times for processing orders and use catalogs to a greater extent, bypassing longer requisition processes.
Making a change is difficult for every company—even when it makes your job easier and increases your revenue—but that doesn’t mean you have to go through it alone. You aren’t alone, and NetSymm is here to help.
NetSymm can change how orders are placed. Contact us today to see how technology forward approach can help you run a better business.