AI transforms business operations: ServiceNow launches finance and supply chain workflows


ServiceNow, a digital workflow company dedicated to enhancing the world’s efficiency, has expanded its product suite.

The addition of Finance and Supply Chain Workflows is set to revolutionise business-critical processes by deploying intelligent automation, thereby driving cost reduction, accelerating time-to-value, and improving user experiences.

The introduction of this new product is primarily to modernise mission-critical processes such as sourcing, procurement, supplier and accounts payable management using artificial intelligence (AI). In an era where businesses are demanding streamlined operations and more resilient supply chains, ServiceNow’s Finance and Supply Chain Workflows offer a much-needed solution. It also enhances compliance and joins the company’s existing Technology, Employee, Customer, and Creator Workflow solutions.

ServiceNow is a leading digital workflow company that seeks to improve global work efficiency. With a broad portfolio of products, ServiceNow offers innovative solutions, from IT service management to employee workflow automation. The company serves industries across the board, including finance, healthcare, telecommunications, and manufacturing, among others.

The newly launched Finance and Supply Chain Workflows use artificial intelligence to modernise crucial business operations such as sourcing, procurement, supplier management, and accounts payable management. It enables organisations to simplify operations, create more resilient supply chains, increase compliance, and drastically improve user experiences.

Other features of the product include automated accounts payable operations, which negate the need for manual data entry and reconcile invoices against purchase orders and goods delivered. The ServiceNow platform also allows for the integration of environmental, social, and governance (ESG) activities, legal, and compliance tasks into a single view for more efficient operations.

Josh Kahn, senior vice president of Creator and Finance and Supply Chain Workflows at ServiceNow, said, “ServiceNow’s Finance and Supply Chain Workflows broaden our portfolio to help meet the unique needs of modern business leaders and organisations, including CFOs, procurement professionals, and supply chain executives.” He added, “To gain a competitive edge in an increasingly complex business environment, these leaders can now deploy automated capabilities across core business functions to drive efficiency and business value at scale, all on one, easy-to-use platform.”

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