What is Buying Hub?

Created by Shubham Saxena, Modified on Mon, 19 Feb 2024 at 04:50 AM by Disha Munoth

Overview

Find, evaluate, negotiate, and buy myriad SaaS tools inside the Spendflo Buying Hub. With the capabilities of Spendflo Buying Hub, organizations can create procurement requests, manage renewals, track approvals, and achieve significant cost savings. By centralizing these critical functions, the platform eliminates the complexities associated with manual processes, jumping between multiple platforms, facilitates vendor collaboration, and enhances efficiency throughout the procurement lifecycle.


Key features and benefits of Spendflo Buying Hub include:

1. Procurement Request Management:


Discover tools within the platform to raise and track procurement requests. Utilize the detailed product catalog that provides estimated budgets and savings even before submitting a request. Effortlessly create and manage purchase requests, specifying item details, quantities, and delivery timelines in a centralized location. This ensures better visibility, transparency, and control over the purchasing pipeline. You can find help articles related to the Procurement Requests here


2. Contract Pricing and Vendor Management: 


Spendflo Buying Hub excels in managing contracts, understanding pricing, and tracking renewals. The platform simplifies contract pricing with a detailed intake form, providing precise information on contractual spend whenever required. It also facilitates tracking contract expiration dates, setting up automated notifications, and seamlessly monitoring renewal timelines. Additionally, you can manage contract lifecycles and highlight specific clauses for thorough oversight. Read more help articles on Vendor Management here


3. Approval and Audit Tracking: 


The approval tracking system within Spendflo Buying Hub is a valuable asset for organizations with multiple stakeholders involved in the procurement process. By providing a centralized location for approving and tracking renewals, Spendflo maintains detailed audit trails, ensuring easy reference and analysis. Learn more on setting up approval groups here


4. Assisted Buying: 


In today's competitive business environment, achieving cost savings is of paramount importance. Spendflo Buying Hub offers an added advantage with its Buying Concierge service—a team of buying experts specializing in negotiating SaaS tools on your organization's behalf. This Buying team acts as an extended arm of your organization, bringing immense value in the form of savings.




Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select atleast one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article

Can't find what you are looking for?

Email us at support@spendflo.com