Procurement Savings Realization Tracking
Why automate?
Cflow Automation Benefits:
Savings Claim Submission:
Procurement uploads contracts, projections, and invoice comparisons for validation.
Finance Review Flow:
Each savings entry is reviewed against actual expenses for confirmation.
Transparency in Reporting:
Approved savings are logged, categorized, and included in financial dashboards.
Cross-Functional Collaboration:
Encourages alignment between procurement and finance on spend management.
Transform & streamline business processes with cloud BPM & workflow automation software.
Join 100k + Users Who Are Already Using Cflow
“I’m really impressed with the support provided by Cflow. There has never been a time when they have kept me waiting. A product that is simple to use and a team that is smart and extremely fast are factors that help me feel reassured and confident.”
“The WFH environment during the COVID-19 pandemic made it clear how inefficient our processes were. Cflow allowed us to digitize paper forms with automated workflows. If you can envision a tool for an online workflow, it can be done in Cflow!”
“We are extremely liking CFlow. So far any issues that we’ve had once we contacted support they were able to help us resolve the issue. This has helped us take a paper process and replace it, faster and more streamlined now for us.”
Frequently Asked Questions
What is procurement savings realization tracking?
A process to measure and verify cost savings achieved through procurement strategies and supplier negotiations.
What are the main challenges in procurement savings tracking?
Distinguishing real savings from projected savings, tracking supplier compliance, and ensuring savings sustainability.
How can institutions improve procurement savings realization?
By integrating procurement analytics, automating savings calculations, and conducting post-purchase cost analyses.
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