Lookout

When Francisco joined Lookout, the procurement function needed overhauling. Various stakeholders were managing different aspects of the procurement process in silos, through emails, spreadsheets, and ticketing tools, without a dedicated system in place. This highly manual process led to inefficiencies and errors, making it difficult to handle the increasing volume of transactions as the company grew.

"There was no centralised tool to manage vendor interactions, contracts, or renewals without a lot of manual oversight."

The lack of a structured system for procurement and supplier management created bottlenecks, slowed down processing times, and increased the risk of errors. This was particularly problematic as Lookout's growth put additional strain on the manual processes. Without a centralised approach, managing contracts, renewals, and vendor interactions relied heavily on spreadsheets and inboxes, which increased the risk of accidental autorenewals and overlooked due diligence. The primary objective was to implement a standardised, automated procurement process that could scale with the company’s growth and reduce these inefficiencies.

Lookout required a solution that could automate and standardise its procurement workflow while being easy to use for all stakeholders. The chosen tool needed to provide flexibility for customisation and quick adjustments as the business evolved. Omnea met these needs by offering a centralised platform that automated procurement activities and integrated seamlessly with existing systems.

"We needed something that would help us standardize the rules of the game, while allowing us to continuously improve and adapt our processes without retraining the entire company every time."

Lookout initially tried leveraging its existing ticketing system for procurement requests but found it too manual and inflexible for their growing needs. After evaluating several tools, they chose Omnea because of its ability to customise workflows and its user-friendly interface. Omnea’s no-code workflow builder allowed Lookout to standardise processes without sacrificing flexibility, ensuring the procurement function could adapt quickly to changing business needs. Omnea’s no-code workflow builder was crucial because it allowed Lookout to standardise their procurement processes without losing flexibility.

Omnea stood out because of its integration capabilities and strong customer support. Unlike other solutions that required extensive IT involvement for modifications, Omnea allowed Lookout to make changes quickly and easily. The ability to automate workflows and centralise supplier management processes, including Supply Chain Risk Management (SCRM), aligned with Lookout’s goal to reduce manual effort and improve compliance.

Since implementing Omnea, Lookout’s procurement process has been transformed. The platform drastically reduced the time and effort required to manage procurement activities, allowing the team to focus more on strategic tasks. Since moving supplier onboarding into Omnea, Lookout has seen a steady decrease in the time to onboard new vendors and expects to exceed their target, even as they ramp up volume. This shift has saved time and reduced costs, making procurement a key contributor to the company’s growth.

Omnea's centralised platform for managing supplier relationships, contracts, and renewals improved Lookout’s ability to enforce compliance and reduce risk. By bringing all procurement activities into one platform, Omnea minimised manual effort and reduced the risks associated with supplier management. "The centralised approach has reduced the time it takes to get things done and made the process much more transparent," noted a team member. This also improved collaboration across departments, enhancing the overall user experience.

Looking ahead, Omnea’s flexibility and scalability remain crucial for Lookout's continued growth. The platform’s no-code workflow builder allows quick adjustments and new processes, supporting Lookout’s expanding operations. With Omnea, Lookout is set to fully integrate Third-Party Risk Management capabilities and explore advanced analytics to drive further efficiencies. Omnea remains a cornerstone of Lookout’s procurement strategy, enabling a more efficient, integrated, and strategic procurement function.

Key Benefits

• Omnea centralised procurement processes, reducing manual efforts and improving efficiency.
• Automated workflows and a no-code workflow builder allowed for easy customisation and rapid process adjustments
• The platform enhanced compliance and risk management by centralising supplier data and automating due diligence.
• A user-friendly interface improved the experience for all stakeholders, reducing training time and increasing productivity.
• Omnea's scalability ensured the procurement function could grow and adapt with Lookout’s needs.

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