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ServiceNow® Procurement Service Management
Challenges facing procurement teams Procurement teams that rely on manual processes spread across multiple systems often struggle to standardize operations, resulting in errors, productivity loss and lack of control over employee spending. And when employee requests for help can comprise up to 47%* of total workload in addition to the buying of goods and services and managing supplier relationships, procurement teams lose precious time tracking and managing help requests instead of focusing on strategic priorities, such as finding better deals and cost saving opportunities.
Digital workflow is transforming procurement service delivery Ideally, procurement teams should have a way to prioritize and fulfill help requests without feeling overworked. There should also be a way for work teams to be united across procurement, legal and accounting so that work is handled efficiently end-to-end. Procurement leaders should also have a way to improve operations and decision-making continuously.
The ServiceNow solution ServiceNow® Procurement Service Management (PSM) makes it easy for employees to request help and make purchases from anywhere. The powerful solution automates and simplifies end-to-end processes for more seamless purchasing and case management across work teams, allowing procurement to focus on strategic priorities.
Built on the Now Platform, PSM integrates seamlessly with existing ERP and procurement technologies to deliver faster time-to-value, while streamlining fulfillment and reducing the potential for errors or delays.
*Now on Now
Transform service delivery with omnichannel engagement, process orchestration and continuous improvement | . |
Key Capabilities
•Collect and track procurement requests from a unified employee portal
•Automate responses for common inquiries using virtual agent with natural language understanding
•Guide employees to preferred suppliers with a centralized shopping hub
•Increase procurement productivity from a single workspace across existing systems
•Easily configure playbooks that guide work teams through procurement processes
•Gain insight into procurement performance and trends with real-time analytics
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Boost employee productivity Organizations that rely on manual procurement workflows struggle to keep track of purchase requisitions, meet employee expectations, and maintain compliance with corporate spending policy. From sourcing, through requisitioning, to order fulfillment, receipt and payment, when tools are disconnected, procurement teams must resort to manual processes to monitor progress and communicate status with stakeholders.
With native mobile capabilities, employees have instant visibility into order status and can complete purchasing, sourcing and approval to-dos from anywhere. Employees can also subsidize orders with employee credits that are configurable and offer flexible payback options to buy the items they really want.
Accelerate and optimize procurement Procurement Service Management enables work teams to perform end-to-end procurement in one place by eliminating unstructured, manual processes. With intelligent task orchestration, work is automatically routed across requisitions, sourcing, negotiations, purchasing, contracts, receipt and accounting so nothing gets missed.
Visualize procurement outcomes instantly with best practice KPIs and dashboards. Leveraging real-time visibility and drill- down capabilities into spending, savings, negotiations and cycle times, Procurement Service Management provides a strategic view of procurement team performance.
Procurement Service Management is also a system of action that connects work teams to the tasks they perform and the systems they use. Real-time integration with ERP and procurement systems enables work to flow seamlessly regardless of the toolsets currently in place.
Reduce maverick spending Procurement teams can reduce maverick spending with embedded policy and compliance. Procurement Service Management enforces contractual pricing at checkout by pulling pricing information directly from the contract. The system also enforces configurable manager approval rules to prevent overspending. Approval rules also help minimize shadow procurement behavior by eliminating delays whenever purchase requests are automatically routed to managers.
Better together with both IT and Integrated Risk Management workflows ServiceNow IT workflow solutions give IT organizations capabilities to optimize costs and improve efficiency with visibility into asset lifecycles. Procurement Service Management provides a complete procurement workflow solution that complements IT asset management practices.
ServiceNow Integrated Risk Management workflow solutions provide oversight of third-party vendors as part of enterprise risk management. As new vendors are onboarded to satisfy sourcing requests from procurement, the system ensures that risk assessments are collected and evaluated in a compliant manner.
Real-time procurement performance visibility with dashboards and analytics.
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Better Together on the Now Platform
Leverage your other investments on the Now Platform for key use cases
•Employee Center, deliver a unified portal for employees to request service and find information
•Vendor Risk Management, automate risk assessment tasks throughout procurement process
•Field Service Management, connect field services teams with procurement from a mobile device
•IT Asset Management, buy stock or facilitate just-in-time purchases
•Project Portfolio Management, control planned vs. actual spending on projects
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