How much time do workers spend hunting down information? Turns out, it’s a lot. According to a McKinsey & Co. report, employees spend 1.8 hours every day – nearly 10 hours a week – searching for information to do their job effectively. Anyone involved in the requisition process is likely familiar with the high cost of lost time trying to answer the simple question of “what’s the status of my requisition?”
Imagine how much productivity would improve if time wasn’t spent looking for information, navigating multiple screens, placing inquiries about payment status or tracking down details just to get answers to “What’s the status of my invoice?” “Has my order arrived?” or “Has the payment been processed?”
When it comes to facilitating a smooth requisition process, the devil is in the details. Easy access to approvals, forms, correspondence and other support documentation at every point of the requisition lifecycle can eliminate unnecessary phone calls and reduce the time required to track down information, get answers and keep the business moving forward.
Providing requestors and end users with simplified navigation and real-time access to detailed information at every stage of the requisition process shortens cycle time, reduces costs and lowers the time procurement spends fielding inquiries while helping requestors and end users quickly return to more value-added tasks.
Can it deliver bottom-line value? Absolutely – but it’s also an important step in internal customer relations. Anything that helps individual departments, teams, and business units get their jobs done faster pays benefits on multiple levels.
The workload is mounting. Many organizations are operating with leaner procurement teams and spending time fielding inquiries prevents them from focusing on more strategic initiatives such as cost containment opportunities. With the right solution, organizations can deliver self-service capabilities, giving requestors and end users access to support details, simplifying the requisition process and reducing the need for procurement intervention.
Time required to make sure purchase orders go out is escalating. Ordering the right goods in the right quantity and at the right time is a key to efficient operations. But increased governance, complexity in procurement policies and focus on cost-conscious purchasing decisions can increase the lead time between ordering an item and receiving it. Visibility into service level agreements, contracts, and other support documentation ensures business is conducted with preferred suppliers, that expenditures are aligned with corporate policies or other compliance requirements and that orders can be executed completely and on time.
Bottlenecks occur too frequently. Understanding where obstacles occur can shorten the procure-to-pay cycle time and calls attention to issues that need to be addressed. Does the individual making a purchase have the authority to do so? Was a purchase order number assigned? Was the number of items on the purchase order received in inventory? Did the packing list match the number of items received? Has the invoice been paid? Requiring administrative support to answer these questions places extra burden on the procurement team and can delay purchases or payments. A centralized dashboard gives requestors and end users access to information at any given time, eliminating bottlenecks in the requisition process.
Visibility into the entire requisition lifecycle from a single screen gives Infor Lawson users the ability to quickly answer their own inquiries and remain in compliance with purchasing policies and procedures. Delivering access to requisition details at every stage of the requisition lifecycle supports effective and efficient procurement activities, reengineering the procurement process from a productivity killer to an effective business function that positively supports the bottom line.