How to automate procurement with AI (and a little magic)

Automation and AI are a perfect match for procurement. Want to know why, and most importantly, how? Here are just a few reasons.

Finance needs efficiency – it’s obvious, isn’t it? Yet so many businesses still seem to forget about it, perhaps drowning in the day-to-day tasks where you just can’t really see the big picture anymore.

Meanwhile, an efficient, agile finance department is the backbone of a healthy and profitable business. 

To be agile, you need to be fast. And fast is hardly ever manual. Not only do manual processes usually take much more time, but they’re also much more prone to human error, often slowing down the entire organization and negatively impacting innovation.

If only there was another way…

Enter AI and automation

What a relief – there actually is a way. And at this point, it’s not even super new.

Automation has been around for quite a while. And with today’s capabilities that artificial intelligence brings to the table, it can be much more versatile and flexible, while also being much more precise at the same time. So decisions can be made faster, and they can be better for the business.

Sound like magic? ✨

Well, it kind of is. But also, it’s, of course, statistics, maths, software engineering, and a bunch of other sciences. It’s just that you don’t really have to know anything about any of it. (Well, not to the extent that actual scientists and engineers do, anyway.) You just need to know your finance management – and the rest happens in the background, to support your goals and facilitate your decisions.

This is exactly how procurement management software can work

Procurement management can be easier, and we’ll go as far as to say it can even be more enjoyable. Because it doesn’t have to be synonymous with complicated processes, convoluted approval paths, confusing procedures, and always-growing piles of documents. 

You actually can:

• have a bigger, broader picture, with all the data you need always at your fingertips. Data that’s always up to date, may we add.
• create more efficient approval workflows and not worry about budget leaks or making the wrong financial decision
• have an agile, non-siloed finance department flexibly collaborating with other departments in the organization
• and – yes, we’ll say it, because we really believe it – less frustrated, more productive, and overall happier people in finance and procurement.

And that’s exactly where we’re going with Logintrade

Procurement can be easier, smarter, and more agile – with the right software to support it. It takes AI and a bunch of procurement enthusiasts to build a tool like that. You’ll find both at Logintrade – so stay tuned while we deliver procurement management software that’s a pleasure to use. 

You can hold us to it.