Lasso Procurement Finance Solutions
Lasso offers a full end-to-end solution for finance leaders. Onboarding suppliers, managing material requisition intakes, running competitive & non-competitive sourcing events, purchase orders, project management, payments, and real-time reporting & analytics.
Smarter Sourcing for Automotive Supply Chains
Procurement software offers several benefits for finance professionals, streamlining processes and enhancing financial oversight.Â
Cost Control and Savings:
Enables tracking of spending in real-time, helping identify cost-saving opportunities.
Automates approval workflows to prevent unauthorized purchases, ensuring budget adherence.
Facilitates supplier negotiations by providing data on purchasing patterns and supplier performance.
Improved Efficiency and Automation:
Automates repetitive tasks like purchase order creation, invoice matching, and payment processing, reducing manual work.
Speeds up procurement cycles, allowing finance teams to focus on strategic tasks like forecasting and analysis.
Enhanced Data Visibility and Reporting:
Provides centralized data on purchases, supplier contracts, and expenses, enabling better financial reporting.
Offers real-time analytics and dashboards for monitoring key metrics like spend analysis and budget compliance.
Supports audit trails with detailed transaction records, simplifying compliance and audits.
Better Compliance and Risk Management:
Enforces company policies and regulatory requirements through automated workflows and approval hierarchies.
Reduces risks of fraud or errors by maintaining transparent records and flagging discrepancies.
Ensures adherence to supplier contracts and terms, minimizing financial penalties.
Streamlined Supplier Management:
Centralizes supplier data, making it easier to track performance, payment terms, and contract compliance.
Supports strategic sourcing by comparing supplier costs and quality, optimizing vendor selection.
Integration with Financial Systems:
Seamlessly integrates with accounting software (e.g., QuickBooks, SAP) for accurate financial reconciliation.
Reduces data entry errors by syncing procurement data with general ledger and accounts payable systems.
Cash Flow Optimization:
Improves payment timing by aligning invoices with cash flow needs and taking advantage of early payment discounts.
Provides forecasting tools to predict future spending and manage liquidity effectively.
By leveraging these benefits, procurement software empowers finance professionals to maintain tighter control over budgets, reduce operational inefficiencies, and make data-driven decisions.
