Procurement solutions often come with challenges, like difficulty creating manual workarounds between disconnected systems and dissipated conversations, which leads to compromised control, limited visibility and inefficiency.
Another issue of the procure-to-pay services include overly complex interfaces and rigid workflows that drive users to bypass the system entirely. Additionally, many platforms lack flexibility, forcing foreign companies to either disrupt their existing workflows or rely on temporary, inefficient measures.
Stampli responds to these challenges by aiming to unify procurement processes, documents, and discussions into a single platform. Its aim is to adapt to users processes and implements in weeks instead of months, giving them control without disrupting business.
Stampli’s approach follows three principles. It plans to adapt to customers in order to avoid change management and confusion from employees, implement informal conversations as part of the process and unify them in the workflow, and display for users only what they need to accomplish their task. This will enable teams to focus on analysis instead of basic processing.
Procure to Pay is powered by Billy the Bot, Stampli’s AI solution. With this announcement, Billy gains new capabilities such as the ability to transform free-text employee requests into the structured data required by finance, simplifying the process for employees so they don’t require training.
Other platform capabilities include portal supporting and type of purchase request, automatic creation of Pos in users’ ERP, optimised approval workflows, and real-time budget tracking and validation. Moreover, it includes Stampli Trays for intelligent request handling based on any criteria, such as value, type, department or any field the user chooses, including custom ones.
Stampli’s product is expected to be available to AP automation customers in Q1 2025.
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