The New Solution accelerates automation and delivers end-to-end visibility to enhance productivity throughout the procurement lifecycle.
ServiceNow introduced its new Procurement Service Management (PSM) solution to help transform procurement across the enterprise and speed up delivery times for simpler search tasks through digitization and self-service.
Procurement modernization is a priority for organizations looking to digitally change operations and redirect resources to more strategic activity, while also enhancing supplier collaboration with more connected, interactive experiences.
However, a recent analysis from ServiceNow indicates that only about half of requests to procurement teams are focused on procuring products and services. The new Procurement Service Management solution addresses this by digitizing low-cost tasks so teams can focus on the work that matters most and deliver the highest-value results.
“Procurement Service Management from ServiceNow brings unique capabilities to market by simultaneously streamlining processes for procurement teams and giving regular employees more ways to solve the problem, quickly and easily, ”Kirsten Loegering, Vice President of Product Management, ERP Solutions, told ServiceNow. “Our solution refocuses procurement teams on strategic activities by redirecting simple tasks to self-service options-throughout the complete purchasing lifecycle.”
PSM is the latest solution built on the Now Platform, the most flexible, extensible, and powerful enterprise technology platform available. Only the Now Platform enables rapid change and innovation by integrating hyperautomation technologies such as low-code application development, Artificial Intelligence, process mining, integration, and RPA to connect modern, legacy, or unstructured data source and accelerate Digital Transformation.
With a code base, an architecture, and a data model, the Now Platform connects loops across departments, integrates with all other point solutions and legacy systems, and delivers value quickly, immediately and in the long run. weather.
“Business and technology are changing faster than ever, and for procurement teams, this ongoing change is redefining how they work,” said Patrick Reymann, Director of Research at IDC. “Service Procurement ManagementNow is responding to a significant market need to improve procurement processes, reduce inefficiencies, and improve overall experiences through the use of unique workflow optimization and ServiceNow automation capabilities. “
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