Approve.com, an Israeli fintech, is a cloud-based software-as-a-service (SaaS) platform that helps companies automate and standardize the procurement process. This easy-to-use platform easily integrates data from the already existing systems and streamlines approval workflows, vendor interactions, and invoice management.
Starting as a small business selling headphones, backpacks, and T-shirts, it made its way to the top by staying focused on their goals and providing excellent service. Now, with millions of dollars in revenue and hundreds of satisfied customers, Approve.com is proud to have gained the trust of Microsoft, Amazon, Google, and many other tech giants.
How does Approve’s Procurement SaaS Platform work?
Approve’s Procurement SaaS Platform helps minimize the cumbersome paperwork and provides a better insight into the purchasing workflow and overall costs of any project.
As its user, you are able to design custom approval workflows, track orders, requests, and vendor onboarding, as well as integrate your current ERP solution with the aim of syncing your current budgets, and search vendor database.
Approve’s Procurement SaaS Platform offers many other features, so let’s take a closer look at some of them to learn how this platform can help you better organize and run your business.
Flexible approval flows
Approve.com enables customization of approval flows in accordance with your company’s management structure and easy flows updates in order to meet your changing needs.
Furthermore, you are empowered to easily organize and control the complete procurement process, starting at purchase requests and vendor onboarding to your invoice approvals.
With this platform’s visual approval flow panel, requestors, approvers, and managers can access all information they need.
These approval flows can be perfectly synchronized with all data from SSO systems, HR, and Finance. This allows the right stakeholders to become involved at the right time.
Vendor database
This feature allows gathering, maintaining, and seeing all relevant information, such as spend volumes, files, contracts, catalogues, and current and potential vendors.
You are also able to add smart tags to onboarding form categories and automatically upgrade vendor data. The platform’s data reports help you track vendor performance and spend volumes.
With its contract management interface feature, you can easily check and filter contracts by team, volume, date ranges, and many others, and also set custom notifications.
Unified interface
All procurement-related data is unified in one place, which comes in handy to keep everyone aligned.
This feature also consolidates invoicing and vendor onboarding data and all purchase requests so you can easily search through your vendor database and order history.
Moreover, the platform enables surmounting the obsolete approach by centralizing business and process data and thus gives its users the context necessary for coming to better decisions, including increased productivity and reducing costs.
Vendor automation
The vendor automation feature allows configuration of new vendor approval flows, including FP&A and AP, as well as implementing intuitive vendor onboarding wizards.
Also, you can save your energy and time by enabling vendors to update their information and submit invoices.
Finally, you can customize approval processes for quick arrangements of submitted invoices and data from invoices can be automatically captured and pushed to your ERP.
These are just some of the Approve’s Procurement SaaS Platform’s features that can help you make better decisions with a strong vendor database, prevent mistakes that are often a result of tedious manual work, create your own custom forms, track requests, and easily link with other company’s functions.