Avaali Solutions} “We help companies strengthen their resilience, reduce costs and risks thanks to digital technology”
This Bangalore-based company has helped more than 120 large companies cut costs by 15-20% in addition to slashing their processing cycle time by 35-50%.
Organizations around the world have increasingly tightened their control over costs and focused on profitability. Even more with COVID-19. Procurement costs are the main component of the overall costs of any income statement. Although reducing direct material procurement costs has always been a priority, the share of indirect expenses in turnover could reach 15 to 30%. Another major objective for companies is to reduce indirect expenses.
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One important way to reduce procurement costs is to take advantage of digital. Thanks to digital, businesses not only have early visibility into leaks and potential risks, but are also able to speed up process cycle times and manage their inventory much more strictly.
Avaali Solutions works with large companies to reduce their procurement costs through digital technologies. They have enabled more than 120 large companies to reduce costs by 15-20% in addition to reducing their processing cycle time by 35-50%.
The technological panda spoke to Srividya Kannan, Founder, Director of Avaali Solutions, about their journey.
Srividya Kannan
Businesses have had to switch to remote work almost overnight due to the lockdown. Document-centric processes such as purchasing and supply chain needed to be transferred to remote teams without disruption. Businesses have realized that digitization and automation is going to be a necessity, not just a good thing to have
“We help companies build their resilience, reduce costs and risks thanks to digital. Our commitments have helped companies reduce processing cycle times by more than 35% and thus accelerate their pace of work, ”she says.
“Businesses have had to switch to remote work almost overnight because of the lockdown. Document-centric processes such as purchasing and supply chain needed to be transferred to remote teams without disruption. Businesses have realized that digitization and automation is going to be a necessity, not just fun to have. Our commitments have helped companies make this transition at an accelerated pace, ”she adds.
The Avaali Way
With a deep understanding of business processes including sourcing, purchasing, supply chain, contracts and legal areas as well as finance and accounting areas, Avaali utilizes a confluence of technologies such as OCR, RPA, Chatbot AI, Workflow Automation, Digital Signature to enable process automation. They have implemented various Shared Services Automation initiatives to help businesses reduce the cost of their Shared Services processes by over 35-50%.
Their product, the Velocious Source to Pay platform, enables superior collaboration with suppliers and lower procurement and procurement costs.
Their product, the Velocious Source to Pay platform, enables superior collaboration with suppliers and lower procurement and procurement costs. Packed with features such as electronic auctions, dynamic discounts, validation of purchase orders and receipt of invoices, advance shipment notifications, the solution integrates seamlessly with packaged applications for invoice processing as well as ” to the main ERPs, thus allowing a large-scale automation of the process.
Origin
Kannan founded the company in January 2013. She has significant experience in functions such as finance, innovation, technology sales, legal, alliances and channels, and business operations. Prior to founding Avaali, she held leadership positions in various large technology companies such as SAP, Oracle and Wipro.
I am in my best flow when working to bypass a dysfunctional area or when implementing something new
The vision behind the company is to support the creation of a connected business where information and networks are heavily leveraged to generate profitable revenue growth.
“I’m in my best flow when I work around a dysfunctional area or when I put something new in place. In my various interactions with large companies, I was excited about the huge opportunity to reduce operational costs via digital. This led to the formation of Avaali, ”she recalls.
Growth story
Avaali has completed over 120 transformations across Asia and the MEA. Their commitments have resulted in a reduction in procurement costs of over 12% to 15% as well as a reduction in cycle time of over 35% to 50%. Their platform can process more than 10 million invoices.
We have in-depth functional expertise on shared service processes. This, coupled with a solid understanding of various emerging technologies, our unique implementation methodology, and our ability to support clients with post-go-live adoption lead to deliver compelling value for our clients.
“We have in-depth functional expertise on shared service processes. This, coupled with a solid understanding of various emerging technologies, our unique implementation methodology, and our ability to support clients with post-go-live adoption lead to delivering compelling value for our clients. We have delivered some of the largest and most complex automation projects in procurement to payment for large enterprises, ”said Kannan.
Future plans
The company offers solutions that will allow more efficient management of working capital and optimization of stocks. Their next-generation dynamic discount solution will help customers reduce their procurement costs by at least 8-10%.
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“Our investments remain strong in automating the procurement process and supply chain for our customers. Our continued innovations in our supplier collaboration platform will deliver superior incremental returns to our customers, ”says Kannan.
“We are investing in more meaningful and long-term commitments with our corporate clients in order to help them improve their margins via digital technology. We are also investing in increasing our share of the portfolio in other geographies such as MEA and Europe, ”she concludes.
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