Centralize Your Purchasing Process with Ironclad for Procurement

Here are some learnings from the conversation:

• Ironclad integrates with your existing systems like Coupa, Zip, or Salesforce, allowing stakeholders to have visibility into the procurement and revenue process. Whether you have an individual contributor in finance or a c-level exec, communications and approvals are tracked in Ironclad to provide a system of record as well as a centralized location to find contracts related to the vendor/customer.
• It’s a small world: vendors as customers, and vice versa. Your company may also procure services and products with a current customer. Lattice uses Ironclad Repository and Workflow Designer to see the full lifecycle of its relationship with its customers. With this visibility, they have saved time on sending a mutual non-disclosure agreement (MNDA) when engaging in a new purchase.
• Strive to build positive working relationships. Procurement is the liaison between internal customers and suppliers so be kind and make sure you are building a partnership.
• The role of procurement is to support, protect, and ensure the company has what it needs to run. When it comes to who specifically owns the procure-to-pay process, our panelists agreed that the requestor (business owner) is responsible for getting the purchase done. The procurement team works with legal to negotiate the commercials and coordinate the budget with finance. With Ironclad, they can see where there’s friction in the process and unblock as needed.
• The ROI for procurement? The procurement team at Lattice focuses on a high NPS score (service to internal business constituents) and mitigating risk. Movable Ink tracks cost and time savings, which ultimately leads to happy stakeholders on both the business and vendor sides. Seismic reports on process metrics and value-adds to also demonstrate an efficient and effective purchasing process.