It is important for procurement professionals to successfully align vendor management and purchasing goals with a trusted solution. Luckily, CobbleStone Software - which has been preferred by procurement professionals for over 20 years - can help organizations to establish a procurement strategy, strengthen procurement processes, and commit to a future-minded and proactive approach to procurement while embracing automated eProcurement software. Read on to learn why so many procurement professionals choose CobbleStone time and time again.
CobbleStone Helps Address the Biggest Procurement Challenges
Organizations face many procurement challenges that CobbleStone's contract management tools can help with, such as:
- day-to-day task management with vendor contract negotiations, vendor administration processes, and vendor performance management.
- meeting and exceeding expectations pertaining to vendor value enhancement, supplier obligation fulfillment, timely data-driven decisions, contract benefits realization, and proper workflow task escalations for errors and disagreements.
- spend analytics surrounding contract amounts, vendor invoicing and payment processing, purchase control, budgets, and fiscal year spend tracking.
- streamlining operations with improved vendor and supplier relationship management, well-documented processes, and better procurement analysis.
Organizations can efficiently and effectively address these challenges by utilizing CobbleStone Software to focus on procurement processes, procurement strategy, and more proactive procurement.
CobbleStone Automates Procurement To Replace Manual Processes
Winning procurement strategies must consider the full procurement cycle from requisitions to compliance - as well as every step along the way. CobbleStone can help organizations to pave a path to more efficient procurement by eliminating the need for manual processes, optimizing core procurement procedures, improving supply chain management, and enhancing contract analytics.
Success-driving procurement practices built on CobbleStone Software's future-minded procurement technology help organizations define actions based upon vendor performance, uphold stakeholder support, and promote seamless collaboration with vendors as well as between departments.
CobbleStone Helps Optimize Automated Procurement Processes
Organizations can rely on CobbleStone's leading procurement and contract management software for better procurement, vendor management, requisitions, bids, RFx management, purchase order management, and contract lifecycle management in one robust and user-friendly software system.
Automated and centralized procurement with CobbleStone can continue to transform processes with:
- improved acquisitions with vendor response comparisons, price comparisons, qualification ratings, and comprehensive obligation evaluations.
- post-purchase oversight with automated alerts and notifications as reminders to review important vendor performance data and contract terms to rate awarded vendors.
- heightened productivity and procurement collaboration with insights into volume discounts, budgets, rebates, and milestones. Procurement professionals can be positioned to make informed decisions about cancellations and renewals without data silos - promoting teamwork and accountability across departments.
- improved spend management and fiduciary control that can seamlessly provide procurement, accounting, and legal teams with the transparency to track approved payments from budgets, contract values, and the remaining balances of contracts.
- better vendor relationships with the collection of feedback for every purchase to aid with future decision making for future purchases and overall partnerships.
Enacting Proactive Procurement with CobbleStone
Proactive procurement management with CobbleStone can help organizations to realize measurable opportunities. This is because better procurement with CobbleStone helps organizations to meet spend analytics KPIs and build accurate spend data with contract intelligence.
Building Accurate Spend Data: CobbleStone users can regularly extract, enter, review, enhance, classify, and cleanse data from contracts, general ledgers, purchase orders, suppliers, and other internal systems to promote accuracy.
Meeting Spend Analytics KPIs: CobbleStone users can focus on visibility, process, and analysis by establishing spend analytics KPIs. These KPIs can include:
- increases and decreases in material price.
- average purchase order value.
- service and product delivery rates.
- total spend based upon suppliers.
- supplier risk ratings.
- and more.
AI-Based Procurement: Procurement professionals utilizing CobbleStone can reduce time spent on routine tasks with the help of contract management AI. AI-based contract management automates procurement processes and increases data reliability - allowing procurement professionals and contract managers to focus on strategy and analytics.
Procurement Professionals Love Contract Insight®
Managing the entire procure-to-pay cycle may appear daunting at first, but you do not have to worry. CobbleStone Software's Contract Insight is preferred and loved by procurement professionals because the integrated suite makes procurement so much easier, centralized, and more success-driving - helping procurement, legal, and contract management professionals better manage contracts, vendor/customer obligations, and agreements.
CobbleStone is rapid to implement, user-friendly, low-friction, and easy to adopt. CobbleStone’s VISDOM® AI can transform otherwise static contract data, bid analysis, and purchases into the dynamic core foundation that brings forth proactive opportunities for better vendor and contract oversight, purchasing, and risk management.
Join so many procurement professionals with a proven procurement management solution. Request a free demo of Contract Insight today!
