Approvals are a key part of the procurement process. But all too often, they’re the source of serious headaches for procurement teams and stakeholders alike.
That’s because obtaining them is often an informal, manual process – using email chains and follow-up phone calls – resulting in longer solicitation cycles, project delays, and poor visibility.
We know these manual processes hinder productivity for many procurement teams, which is why we’re excited to introduce you to an efficient purchase approval process that will transform the way you control spending.
Leveraging Purpose-Built Tech for Your Procurement Approval Process
When you leverage purpose-built, cloud-based tech—like Euna Procurement—to revamp your existing approval process, you’ll see consolidated visibility, turnkey compliance, and improved stakeholder engagement.
Most importantly, you’ll say goodbye to unnecessary friction in the purchasing process and reclaim your time—allowing you to put more attention on high-value tasks.
Capture and Streamline Your Existing Approval Workflow
By streamlining your approval process, you’ll remove internal barriers to efficient solicitations, get everyone on the same page, and keep projects running on time—making life easier for both your procurement team and your stakeholders. Here’s how:
- Simplify the approvals workflow with standardized templates, straightforward forms, and concise email notifications and reminders.
- Easily track approval requests at multiple stages of a purchase, from intake all the way through to awarding a vendor, and quickly generate reports.
- Automate follow-up with your approvers through system-generated reminders to encourage timely review and submission of responses, as well as immediate notifications to buyers as soon as anything changes.
- Improve efficiency with repeatable templates that let you identify stakeholders and get your approval request out quickly.
- Eliminate the time crunch with heightened visibility into the approval status of all current, upcoming, and past requests on the approvals dashboard, helping you keep projects on time.
- Automate compliance with turnkey reporting that tracks approval statuses across multiple people, emails, and phone calls and generates real-time audit reports.
Expedite Approvals at Every Stage of the Process
Ensuring stakeholders review and approve key elements of the solicitation process is essential. Sign-off needs to happen at multiple stages of the process. Our solution is designed to make the procurement process seamless and straightforward for everyone involved.
Beginning with intake, you’ll capture all approval steps alongside a new purchase request as it progresses and keep all details organized in one place. Modern tech provides a consistent experience for end users and a transparent view into the purchase request status.
When it comes to creating requirements, cloud-based tech delivers an audit trail, common approval process steps, pre-scheduled email reminders, and notifications for late approvals, making it easier and faster to finalize RFP requirements with stakeholders.
Prior to bid posting, purpose-built tech ensures all finalized documents are signed-off by relevant stakeholders, including end users, legal, procurement, and any other offices before posting. Anyone can be added as an approver — even non-Euna Procurement users. It’s also quicker to post addenda by getting quick approval on any Q&As, forms, or documents being shared.
Finally, when it comes to the award recommendation, modern tech streamlines the process of summarizing the results and putting forward a recommendation on which vendor to award, a crucial step of approval processes.
Create an Effective Purchase Approval Process with Euna Procurement
Up until now, managing and responding to approvals in procurement processes might feel like a time sink that adds more stress and administrative overhead to your already-full plate.
Conducting purchase approvals through technology that’s built to help you reach maximum efficiency eliminates burdens. These technology systems easily connect all stakeholders in a fast, efficient, and streamlined workflow that’s purpose-built to solve procurement teams’ biggest barriers to an efficient approval process.
To learn how you can streamline your purchase approval workflow, request a demo of Euna Procurement today.