MResult MLabs teams helped an F100 biopharma major leverage a host of technologies and tools to improve the functioning of the critical procurement function
Problem
Harnessing efficiency and innovation for complicated processes that span geographies and involve stakeholders throughout the ecosystem requires the know-how to build solutions across numerous platforms and tools.
- An F100 biopharma wanted to leverage technology to streamline its procurement processes for greater accuracy, employee efficiency, and better oversight.
- Processes such as payment reconciliation and PO closures required data integration and end-to-end automation
- Vendor management needed improvement
- Global procurement oversight had to be streamlined
Solution
MResult MLabs teams work closely with client teams to find innovative solutions to simplify the execution of intricate scenarios. They do this by leveraging an array of technologies and tools.
- At the F100 biopharma, MLabs teams used multiple technologies to streamline procurement processes
- Data sources were integrated, centralized searchable access created, workflows defined and process monitoring automated for PO closure and invoicing, and chatbots created for non-compliance alerts
- Governance was improved for vendor-related data, scorecards and dashboards created and automated, and client teams trained in using the solution
- Business processes were modelled to include responses from global procurement leadership, stakeholders, team members, and vendors. Helpdesk processes were streamlined. Sophisticated user-friendly dashboards and reports helped to identify hard-dollar savings, develop sourcing, budgeting, and planning strategies, drive purchasing compliance, identify missed opportunities, and support data-driven communications across the value chain.
Impact
MLabs teams skillfully use technology to automate repeatable tasks and empower trust and communication across the value chain.
