THE CHALLENGE: Modern businesses have complex operations for making purchases. Spend programs spanning budget reviews, vendor due diligence, contract authorization, and purchase orders create complex workflows across many people and systems. Decentralized purchasing, subscriptions, data security, and other dynamics of today’s spend categories add to the challenge. In particular, teams spanning Finance, Procurement, Compliance, Legal, Security, and the rest of the business must coordinate their activity to complete their work. While business reviews are important to inform decision-making and reduce risk, overwhelming information requirements, process dependencies, and visibility, frustrate end-users and hurt everyone's productivity. As businesses scale, bad habits form, speed decreases, and risk increases creating significant operational debt.
THE SOLUTION: With Trace you coordinate all of your purchase reviews — financial, security, compliance, legal, etc. — and bring together the necessary business data to drive automated and informed decisions. With all purchase operations in one place, we've reinvented the "PO process" to deliver the ultimate end-user experience that boosts adoption and satisfaction.
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