Digital workflow technology provider ServiceNow has released a software solution focused specifically on streamlining and modernizing procurement for organizations. By enabling users to leverage self-service and automation to accomplish procurement tasks, the Santa Clara, Calif.-based company said its Procurement Service Management (PSM) solution will make them more efficient.
ServiceNow said the procurement function in many organizations suffers from too many irrelevant requests taking up the valuable time of staff. In a recent study, the company found only half of the requests to procurement teams were actually focused on procuring goods and services.
According to Kirsten Loegering, vice president of product management for ERP Solutions at ServiceNow, The PSM solution “simultaneously streamlines processes for procurement teams and gives regular employees more ways to problem‑solve, quickly and easily.” She said it enables procurement teams to refocus on “strategic activities by redirecting simple tasks to self‑service options – across the complete procurement lifecycle.”