A procurement system for improved spend and risk management
Problem
As a fast growing organization, Handshake was having various vendor challenges and realized they needed to pay more attention to procurement. The finance team, alongside security and legal, was tasked with managing a new company-wide process to get visibility earlier in the buying cycle for better pricing and risk management.
Solution
Sudozi provides a single platform to configure approval workflows, automate vendor renewal alerting, and manage vendor spend analytics.
Outcome
Within a matter of weeks, Sudozi has enabled Handshake admins to configure and launch a robust process to capture spend intent before vendor contracts are signed, giving finance, legal, and security teams visibility they never had before. After onboarding Sudozi, Handshake has been able to save money by negotiating earlier with vendors, avoiding price increases, and rejecting spend that isn’t needed.
Who
Handshake
About
The top way college students & recent grads get hired for jobs and internships. Software for colleges and employers.
HQ
San Francisco, CA
Employees
800
Sudozi Features
Procurement Intake, Vendor Management, Financial Insights
How Sudozi Helps Handshake:
Leveraging digital vendor data to make better decisions
Prior to Sudozi, Handshake had their vendor contracts in various places: Google Drive, emails, and personal laptops. There wasn’t a single source of truth for vendor contracts. Not only did Sudozi provide an easy central repository for the documents, but now the Handshake team is also able to digitally store key components of the contract such as renewal dates and terms so reminder notifications are automated and terms are searchable.
Increased employee procurement engagement
As a fast-moving company with close to 1000 employees who are frequently remote, Handshake needs a procurement platform that is easy-to-use for everyone. Sudozi was able to exceed Handshake’s expectations for both admins and employees with usability and consumer-like product experience.
Analytics to stay on budget
Launching a robust procurement process that employees are willing to engage with means more visibility and savings opportunities for Handshake. Adding in Sudozi’s financial analysis and analytics features allowed finance and procurement stakeholders to consolidate tools and stay in one app for their day-to-day budget management needs. Spend issues are caught earlier, saving the company money and building forecasting trust with executives.
Getting involved early in the vendor process has always been a goal for procurement. With Sudozi, we were able to achieve much more visibility to ongoing requests as well as existing vendor data. Procurement is crucial to increased savings and understanding company investments, and Sudozi has been able to help us on all facets of the responsibility.
Ingrid Ryan, Director of Finance
at Handshake
at Handshake
Security and IT teams often get looped in too late in the procurement process. With Sudozi, our teams are able to get early visibility to vendors and be prepared for onboarding and reviews. Sudozi has also helped with audit evidence and ongoing vendor collaboration.
Jake Gord, Information
Security Lead
Security Lead
Employees don’t want to read and memorize legal approval policy documents. With Sudozi, our legal team is able to launch workflows that connect to existing systems. This helps with overall compliance and legal review while enhancing our operating cadence.
Harvey Daniels III, Managing Counsel,
Commercial Transactions
Commercial Transactions
Outcome
Sudozi has been able to help Handshake on all facets of the Procurement responsibility
Approval compliance
Since launching Sudozi, Handshake has experienced close to 100% Procurement compliance, helping the company reduce spend and risk.
Centralized visibility
Millions in annual budget being managed within Sudozi to maximize savings and minimize risk.
Win for the business
Business partners enjoy having one place to go to request spend and work with the procurement process.
