Airbase, the modern spend management software provider, has announced the launch of Guided Procurement.
Airbase claims it is “the first spend management solution to automate the intake process for purchasing.” It meets “the needs of multiple stakeholders like procurement, finance, IT, security, and legal while integrating with their systems.”
Guided Procurement is “a no-code, customizable workflow that directs any employee who wants to make a purchase to capture all necessary information and documentation.”
It routes purchase details “to appropriate stakeholders and secures the required approvals for all transactions.” It takes the guesswork “out of spending company money and ensures compliance for all spend, even in complex organizations or buying scenarios.”
Kevin Permenter, Research Director, Financial Applications at IDC, noted:
“Airbase Guided Procurement is well timed as it addresses the growing need for companies to simplify their procurement processes in the face of increasing complexity. By consolidating the purchase and approval workflows, companies can have greater control, efficiency, and visibility into their spending, resulting in better compliance and savings.”
According to Airbase Founder and CEO Thejo Kote:
“We understand the risks and challenges around compliance and control that companies face when dealing with complex global procurement processes, especially ones that span multiple business groups and their systems. That’s why we’re so pleased to offer Guided Procurement. Any employee from any location can request a purchase while being guided by Airbase to gather and route all necessary information to multiple stakeholder systems. This means that IT, legal, finance, and procurement teams have the oversight they need to ensure compliance. Our purchase and approval workflows can be easily configured to reflect company policies and the requirements for different types of purchases. We believe this expansion of our product ushers in a new era of modern spend management, which includes all workflows for all stakeholders for all types of spend.”
Airbase customer Erin Marchbanks, Accounts Payable Manager at Recharge, provides a real-life example of the impact of Airbase Guided Procurement.
“Managing purchasing processes can be a headache sometimes, especially when different departments like finance, IT, security, and legal all need visibility and control, but they all use their own business systems. That’s why we’re thrilled Airbase has added Guided Procurement. It gives employees an easy way to gather necessary information for every purchase and route it automatically to all stakeholders, directly to the software they already use. Everyone involved, from the requestor to the stakeholders, gets a great user experience, and we get improved compliance, speed, and visibility to find more savings.”
Related to its expansion of the procurement function, Airbase also announced the hiring of VP of Sales, J.R. Robertson, “to lead its sales effort. J.R. joins the company from Coupa and brings a deep understanding of the needs of companies when it comes to more complex procurement processes.”
J.R. commented on his new role:
“Airbase is leading the charge in transforming spend management, and I am excited to be a part of such a dynamic and innovative team. I look forward to driving growth and delivering value to Airbase’s customers.”
Airbase Guided Procurement is already being “used by a number of Airbase’s customers, and interested parties can learn more on the Airbase website.”