Why use Provalido to manage your projects and report the benefits?
8 reasons to use Provalido
It’s so much better than spreadsheets.
Spreadsheets shared by multiple users quickly get messy with updates difficult to track and control. Our simple interface helps to eliminate errors, meaning no need for cleansing or consolidating the data. The workflow can be controlled with projects and savings being approved at key milestones directly in the tool. Emails can be triggered to notify users of certain events or required actions and all changes are logged so you can see exactly who updated what and when.
It helps to embed your process
Devising a process for running procurement projects is relatively easy compared to making sure the team actually follows it! Provalido helps to maintain a consistent process with various controls and rules that can be configured to make sure users follow the correct workflow, with approval/validation being made by the right people at the right time. These processes can then be easily repeated year-on-year and refined and improved as needed.
Gain from years of experience
It can be tempting to think about building your own tool from scratch. Sure, you might eventually get a system that exactly matches your specific requirements, but it’s likely to take a while and not be the easiest to use or maintain. Provalido is ready to go now, so you can be using it in days, not waiting weeks or months for development. We’ve spent more than 35,000 hours developing our tool, and you can benefit from our learning and expertise built up over the years, as well as best practice input from other customers. Of course, ongoing upgrades come as standard with our development team fully focused on maintaining and improving the tool.
It’s about more than just savings
There’s so much more to procurement than simple price reduction. In Provalido you can manage and report on projects delivering different types of financial benefit such as cost avoidance, cash-flow improvement and revenue growth, as well as reporting on non-financial value such as carbon reduction, electricity/gas reduction etc. You can even manage projects that deliver no measurable benefit at all. How you use the system and what you use it for is completely up to you.
Report higher numbers
3 out of 4 of our customers report savings 18-24% higher in the first year of using our tool. Yes, our tool doesn't deliver greater savings in itself, but the evidence shows most customers see a significant uplift in reported benefits. There's no doubt, a robust process rooted in an easy-to-use system helps focus on procurement goals and encourages good behaviour. With our average customer saving around $34m per year, that's around $6 - $8m additional savings being reported in the first 12 months of using our tool, meaning ROI is achieved in days, not weeks or months.
No matter what your role is, Provalido will make things better. Senior management will have access to real-time dashboards showing up-to-date forecasts and information on team activity. Category managers have an easy way to log savings and showcase the value being delivered. Data analysts have so much more information at their fingertips. Finance have a transparent, auditable source of data, approved by their own people. Stakeholders can also be provided with access to have visibility on how projects are progressing.
We integrate with your ecosystem
At Provalido we’re fully focussed on this niche of procurement performance. Almost all our customers also use a Procure-to-Pay or Source-to-Pay system, as well as tools for eSourcing (if no S2P), Spend Analytics, Business Intelligence, Contract Management, Supplier Onboarding etc. Our tool is designed to work alongside these other procurement tools, to compliment them rather than replace them. You can pull data directly from Provalido into systems such as Power BI, Tableau, Qlik etc and we are always happy to look at integrations with other systems.
Become part of a wider community
Provalido is used by forward thinking organisations world-wide. Our system development is driven by our customers so new thinking and best-practice is constantly being built into the tool. We offer opt-in benchmarking so you can see how your organisation measures against key metrics to gauge efficiency and performance. As our customer community grows we’ll be adding more ways for them to share best-practice approaches to procurement performance management.