By ET Bureau - March 16, 2023 3 Mins Read
Leading SaaS buying platform Vendr today announced the launch of Workflows, a new feature that allows customers to easily define, automate, and scale their procurement processes. With Workflows, users can build custom, automated processes or select templates to easily start managing all purchases. To reduce admin tasks and provide better visibility, the tool allows users to assign tasks, tag stakeholders, and share notes so teams always know the status of a purchase, all while automating intakes and approvals. Workflows brings SaaS and non-SaaS procurement into one place, enabling collaboration across stakeholders and teams, while ensuring standardization and consistency throughout the entire procurement ecosystem.
The traditional, manual process of managing contracts is inherently inefficient and riddled with mundane admin tasks. Workflows streamlines this process, allowing users to purchase software by tagging stakeholders at the optimal time and tracking the linear progression of a purchase from intake, review, and approvals, to the negotiation that ends in a contract. With total software spend and management in one central location, users can make more impactful business decisions and achieve better outcomes.
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“Companies are buying more software than ever — it’s one of the greatest levers for any business. However, buying and renewing software is a messy, manual process and requires a major time commitment from procurement and finance leaders,” said Vendr co-founder and CEO, Ryan Neu. “Workflows simplifies the intake-to-procure process and takes the repetitive, administrative tasks off finance leaders’ plates, creating delightful, compliant purchasing experiences. Vendr is in the business of giving time back to procurement leaders, and Workflows helps those leaders go from busy to strategic.”
More than 360 customers, including InVision and Mixpanel, use Workflows to easily build, manage, and scale their procurement processes. The intuitive tool offers total customization capabilities as well as easy-to-use templates that provide instant visibility into purchases. Auto-renewal options allow teams to set up email and Slack reminders in advance, opening the door to renegotiate contracts as necessary. Companies that use Workflows alongside Vendr Explore benefit from a singular engine through which to find, buy, and manage software. Backed by the deepest SaaS data set in the world––from billions in spend processed from tens of thousands of deals and thousands of suppliers––Vendr’s suite of features empowers procurement and finance professionals to focus on more strategic, meaningful work.
“Purchases that previously required multiple email threads and manual management now flow through a single intake form and an automated approval process,” said Tessa Hamilton, IT Help Desk Lead at InVision. “With the addition of Workflows, we’re not just using Vendr for negotiations. It’s become our procurement management tool for all our purchases.”
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