Challenge
One of the most time-consuming part of the Procure to Pay process is the first step of inviting quotes from multiple vendors, comparing them, and finalizing the preferred vendor.
Since the process is manual, often, it is driven by human judgment in spite of a large vendor database available for perusal. It is also cumbersome to compare quotes from multiple vendors across multiple categories manually.
Also, once the goods arrive, employee has to manually validate the purchase order/GRN/invoice details to confirm the particulars of goods received.
Solution
The bot scrapes the existing vendor database for the category of items to be procured and captures top 5 vendor details.It sends a request for quotation to the shortlisted vendors.
The bot scrapes the existing vendor database for the category of items to be procured and captures top 5 vendor details. It sends a request for quotation to the shortlisted vendors.
Post successful validation, bot emails the account team to process the invoice.
Benefits
Process free from human judgment.
Annual cost savings.
~80-100 Man hours saved every month.
Error-free output.