Procurement Use Cases
Procurement Framework
Turn complex paper-based procurement policies into intuitive and efficient digital user journeys, customized to your needs.
The Challenges
Procuring new goods and services is a crucial activity for any organization, which directly impacts the bottom line and if done wrong could pose operational, reputation, and compliance risks. As a result, procurement processes have grown in complexity, have become hard to navigate, and now requires substantial management overhead. It is often managed via lengthy policy documents, hard-to-track spreadsheets and emails, which create inefficiencies and non-compliance. Off-the-shelf ERP systems address the problem to an extent but tend to be expensive and inflexible with addressing the requirements unique for each organization, often requiring the organization to adjust its processes to fit with the technology system rather than the other way round.
Benefits
Increased efficiency and faster turnaround
Reduction in time spent to explain and facilitate the processes, manually create required agreements (sometimes having to retype the same data across multiple documents) and audit trails. Faster turn-around for business users lodging procurement requests due to automation and self-serve.
One stop-shop system offering full operational transparency
Centralized management and tracking of the full end-to-end procurement process enabling right and timely managerial decisions and eliminating the need to switch between multiple systems.
Compliance by design
Increased compliance due to in-built checks, controls and automated audit trails capturing key information and actions taken as part of each procurement.
Ease of customisation and maintenance
The solution is fully configurable and can be quickly adjusted to complex Policy changes in a matter of minutes, as well as allow to inject your own unique company voice to increase adoption.
Make better informed business decisions
The accounting team can use the centralized dashboard to view an audit trail and transcript of all responses, actions and attachments, so business decisions can be made with the full picture to back it up
challenges
HOW DOES MLS ADDRESS IT?
Navigating complex procurement frameworks and policies is confusing and time consuming.
Creating procurement-related documents is time-consuming and involves a lot of manual double entry.
Document execution process is hard to navigate, tedious, and lengthy with employees and clients having to download, sign and re-send their documents.
Existing off-the-shelf solutions cater to standard processes but cannot be customized to match unique business requirements and are rigid to ongoing process changes.
There is limited visibility into each procurement as they are often managed via email or offline spreadsheets, and when incidents occur, a lot of time is required to assemble an audit trail of the actions that occurred.
MLS codifies procurement rules and leverages decision tree logic to dynamically triage users through a tailored and compliant-by-design user journey based on their inputs. MLS also allows procurement teams to codify approval frameworks to automatically trigger relevant approvals across multiple stakeholders in order or concurrently.
MLS facilitates weighted-scoring-based risk assessments in the background and can automatically escalate procurements for review or request further information or documents to meet compliance requirements.
MLS eliminates the need for manual contract creation by automatically populating procurement information provided by users or data from other systems via API (e.g. vendor data) into the contract. These business-critical documents are automatically customized and can feature:
1. Conditional clauses – only the relevant clauses are inserted into the document based on procurement inputs and numbered automatically.
2. Dynamic tables to structure information in rows and columns that are adjusted automatically to the content.
The automation templates are managed in a centralised manner and are always up-to-date and compliant-by-design.
MLS can codify even complex document execution frameworks and the out-of-the-box e-signature functionality allows to effortlessly sign contracts, reducing friction and time to execution.
MLS is a no-code platform that empowers business experts to digitise and automate complex end-to-end processes without having to write code. Digital tools and journeys can be built from scratch with your unique requirements in mind and can be quickly customized if processes or rules change, without needing to consume IT’s time.
Each procurement can be tracked on a centralized MLS dashboard with an out-of-the-box audit trail attached, which automatically captures all information submitted and all actions taken as part of each procurement.