Olive Technologies, a leader in AI-driven decision-making solutions, has partnered with Procurify, a top cloud-based procure-to-pay (P2P) software provider. This alliance merges two innovative platforms to streamline and enhance the vendor sourcing, selection and procurement processes for organizations worldwide.
One of the key challenges procurement faces is bridging the gap between business decision-makers and procurement teams. Often, decisions made by business units and IT about vendor selection, product procurement and implementation are handed to procurement with limited context, leading to inefficiencies and potential misalignment.
“The divide between business decision-makers and procurement teams can result in suboptimal vendor choices, delays in implementation, budget overruns and missed cost-saving opportunities,” said Heather Simmons of Procurify. “Companies accessing an integrated approach to spend management benefit from streamlined workflows, real-time visibility, and centralized spend data to inform better decision-making — which leads to improved business outcomes.”
Together, Olive and Procurify are reshaping how businesses approach procurement. Olive empowers buyers to collaborate seamlessly on tech purchasing decisions, offering complete transparency to all stakeholders involved in the decision-making process and ensuring the company makes the best decisions to find the best-fit vendors.
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Procurify’s intelligent spend management software streamlines workflows from procure to pay and gives organizations real-time visibility and control over all business spend to help speed up purchase cycle times and enable data-driven spend decisions.
“It’s very few people’s job to buy software — even procurement people, who shouldn’t own responsibility for evaluating the right decision. That evaluation should fall to the people using the software. Procurement should be focused on securing the best deal and ROI from solutions the business said it needs,” said Chris Heard, CEO and co-founder of Olive Technologies. “Olive and Procurify will help businesses make informed, data-driven decisions and smoothly execute procurement transactions.”
This partnership brings together two best-in-class solutions, combining forces to provide organizations with a seamless source-to-pay workflow to help identify and address business challenges associated with vendor selection, purchase, implementation and renewal — all while maintaining clear and effective communication and understanding between business, IT and procurement. Clear communication results in higher success rates, lower total cost of ownership (TCO), improved coordination across the organization, and solid vendor partnerships.
SOURCE: PRNewswire