Expent
AI driven Vendor Lifecycle Management tool
Procurement, security, and IT teams encounter complex hurdles in vendor management. Procurement team struggles with spend control enforcement and strategic involvement, often being looped in late.
Client
Expent
Services
Visual Design UX Design
Industries
IT
Date
January 2023
Problem statement
Procurement, security, and IT teams encounter complex hurdles in vendor management. Procurement team struggles with spend control enforcement and strategic involvement, often being looped in late. Security teams contend with limited resources, affecting the thoroughness of vendor security assessments. IT teams battle vendor sprawl and data silos, making it challenging to update and manage vendor information.
Solution
With Expent, the procurement process undergoes a significant transformation. Purchase approval workflows are seamlessly automated through data-driven procurement workflows, streamlining operations and enhancing efficiency. Dynamic intake and approval workflows not only simplify compliance but also empower security teams to proactively mitigate critical risks. Moreover, Expent enables IT teams to analyze contract terms, categorize vendors based on strategic value, and automate tasks such as updating vendor data, assessing risk, and managing renewals. Furthermore, Expent provides VMO teams with easy access to vendor communication and updated vendor records, facilitating smoother vendor management processes overall.
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