ScOp portfolio company Aavenir offers a comprehensive suite of AI-driven, source-to-pay solutions tailored to improve sourcing, contract lifecycle management, invoice processing, and vendor management. Built on the ServiceNow platform, Aavenir’s products streamline procurement processes, optimize workflows, and empower organizations to manage spend more effectively.
Sourcing Management with RFPflow
Aavenir’s RFPflow simplifies the sourcing process by digitizing and automating RFP creation, publishing, and supplier collaboration. With an intuitive supplier portal, RFPflow centralizes sourcing workflows, enabling procurement teams to streamline supplier selection, improve response times, and gain strategic insights through sourcing analytics.
Contract Lifecycle Management with Contractflow
Contractflow provides end-to-end contract management capabilities, from contract intake and authoring to review and analytics. With AI-driven workflows, users can automate routine tasks such as clause identification, compliance checks, and risk detection. Contractflow’s repository centralizes all contracts, making it easy to track key terms and manage obligations, helping teams ensure compliance and reduce risk.
Accounts Payable Automation with Invoiceflow
Invoiceflow automates invoice processing, from data extraction and validation to approvals. Leveraging AI, the tool supports 2- and 3-way matching, reduces manual intervention, and enhances spend management by identifying duplicate invoices. This automation optimizes accounts payable processes, ensuring timely payments and reducing processing costs.
Vendor Onboarding and Compliance with Onboardingflow
Onboardingflow streamlines vendor onboarding with automated due diligence, verification, and documentation. By digitizing vendor onboarding workflows, Aavenir enhances compliance and enables seamless vendor collaboration. This solution provides a centralized database for vendor information, supporting consistent and secure vendor management.
Obligation Management with Obligationflow
Obligationflow enables organizations to track and manage contractual obligations effectively. The tool uses AI to extract key terms, monitor compliance, and issue alerts for upcoming deadlines or milestones. This proactive approach to obligation management ensures that contractual terms are met and minimizes compliance risks.
Why Aavenir Matters
By uniting procurement, legal, and finance workflows under a single, AI-powered platform, Aavenir empowers organizations to improve efficiency, reduce costs, and manage risk effectively. Its robust integration with ServiceNow allows enterprises to leverage existing infrastructure while benefiting from advanced AI capabilities, transforming source-to-pay processes.
For more information, visit Aavenir's website.