Get Started with Catalytic for Procurement
Catalytic is an automation cloud that empowers your team to re-imagine how work gets done. When your people and our automations are working together, you can shift the focus from the manual, tactical work your team is doing today and the strategic activities they should be doing.
How it Works
Catalytic can process data in seconds that takes employees days. Business users can rapidly build automations to process data, documents, emails, websites, and systems by coordinating people, bots, and third party systems. In addition to reducing manual effort, it shortens cycle time to a fraction of the original, and improves accuracy to nearly 100%.
How Procurement Teams Use Catalytic
Clean & Consolidate Data
Catalytic can make sense of disparate data spread across multiple sources. By integrating with key systems of record, Catalytic can identify issues or missing information and ask vendors to validate or rectify it. Additionally, most Procurement departments use Excel for their “shadow” systems of record. By moving to a flexible cloud database, your data is secure, connected, and easily reportable.
Automate Contract Compliance Review
By using natural language processing to scan active contracts for terms and exceptions, Procurement departments can reduce the unknown risks hidden within the hundreds or thousands of active contracts. The remediation of this process can also be automated – assigning vendors to correct any issues.
[Callout - Customer Spotlight] One customer automated a process used to verify supplier contract compliance. It used Catalytic to import all documents, scan them using OCR, and extract and structure key terms from 69,000+ contracts. By automating the process, the company saved more than 1500 days of effort while eliminating the risk of human error.
Standardize Purchasing Processes
Catalytic takes care of a lot of the tedious work, such as shuttling data into systems, creating documents and spreadsheets, collecting e-signatures, scheduling meetings in Outlook, and sending reminders when people are late in completing tasks.
Track Supplier Certification & Insurance
With Catalytic, you can automatically ask suppliers on a recurring basis to upload specific certifications or insurance documentation. When suppliers are not in compliance, you can send automated reminders until they are. Reports of supplier compliance levels can be generated on-demand or scheduled.
[Callout - Customer Spotlight] In order to ensure compliance with the Restriction of Hazardous Substances Directive, a large manufacturing company needed to collect information from 3,600 suppliers and then upload it to a central tool. Catalytic automated a majority of this process, reducing manual effort by 300 working days and avoiding the need to hire additional help, all while increasing data quality.
Crowdsource Vendor Performance & Value
With Catalytic you can automate vendor feedback to understand metrics like quality of products, quality of service, results vs. contract metrics, and value vs. cost. This can then be augmented with other data such as fees, usage, uptime, and on-time delivery to provide a holistic view of performance. Your team can focus on vendors that are underperforming, overcharging, or in a competitive market, while Catalytic can automate customized remediation plans and track execution against them.
Unlock Your Procurement and Sourcing Potential
- Trade repetitive, time-consuming tasks for business-critical, strategic work
- Eliminate risk of costly manual data entry errors
- Stop the communication breakdown with suppliers
- Gain visibility into your processes to uncover hidden bottlenecks
How It Fits Within Your Technology Ecosystem
With Catalytic, third-party automation capabilities such as HelloSign for e-signatures, Google for OCR and natural language processing, or Rossum for invoice processing are built-in and available without any additional contracts or implementations. We also offer turnkey integrations to dozens of business systems that can be configured in less than ten minutes.
(show logos of relevant procurement systems that we have integrations: Coupa, SAP, Oracle, Netsuite, docusign, etc) (CTA: View all Integrations)
Our experts can help you get started with your sourcing and procurement automations.
CTA: Get a personalized demo