FOR IMMEDIATE RELEASE
Authorium and ServiceNow announces new solutions built on ServiceNow enabling the public sector to automate procurement and accelerate document processing by 50-70 percent
Authorium and ServiceNow partner to provide government agencies an automated, end-to-end platform solutions for procurement/contracts, grants, and budgeting.
New procurement and budgeting solutions lead to faster outcomes for constituents while providing greater insight and accountability into how funds are spent.
Grants solution empowers local jurisdictions to take advantage of $2 trillion in federal funds with a focus on efficiency and rigorous oversight.
Authorium announces completion of its $12M Series A round led by SJF Investment with investment from ServiceNow, TFJ Capital and Nellore Capital.
May 15, 2023 – Las Vegas. Today, Authorium – the expert in accelerating document-centered workflows for government procurement, contracts, grants, and budgeting for federal, state, and large local government – is announcing the general availability of three Authorium end-to-end solutions built on ServiceNow:
Authorium S2PInsight™ – Source to Pay – powered by ServiceNow
Authorium G2FInsight™ – Grants to Fund – powered by ServiceNow
Authorium B2RInsight™ – Budget to Results – powered by ServiceNow
These solutions leverage the power of Authorium’s platform for Document Process Automation™ to accelerate document production by 50-70 percent. The platform replaces desktop applications with modern, cloud-based solutions that include built-in collaboration and project management tools to eliminate redundant data entry and ensure compliance with each jurisdiction’s contracting standards.
Jay Nath, Co-CEO and Founder of Authorium and former Chief Innovation Officer for the City of San Francisco notes that “Over the last 18 months, we have been working with some of the largest government agencies in the U.S. Our big insight when we analyzed the process flows in use is this: the processes in place are centered around document production. Speed up document production and you can accelerate government agency’s ability to solve its most pressing problems with greater innovation, all without compromising on accountability and oversight.”
Documents produced on Authorium’s platform have built-in intelligence, automating process workflows by turning the unstructured data hidden in large document sets into actionable data for greater insight and accountability. Data can then be injected into multiple systems within the government agency including ERP systems.
The new Authorium and ServiceNow solutions enable government employees to dramatically cut the time needed to get mission-critical solutions working for constituents. Compliance, insight, and accountability become nonissues due to the power of Authorium’s Document Process Automation solution coupled with ServiceNow’s cutting-edge workflow automation platform.
The three end-to-end solutions announced today for procurement, contracts, grants, and budgeting were purpose-built for government, to allow agency leaders to focus more on what matters most: finding and implementing innovative solutions to their jurisdictions’ most pressing problems.
“Governments are moving with unprecedented speed when meeting citizen expectations for healthcare, affordable housing, climate change, and disaster preparation and recovery,” said Dr. Raj Iyer, global head of public sector at ServiceNow. “Together, ServiceNow and Authorium are bringing solutions to market to transform government agency operations, balancing the need for rapid net-new innovation with greater insight and accountability. Our shared goals – to drive impact and enhance the constituent experience – make us ideal partners in improving digital delivery for government services.”
Kamran Saddique, Co-CEO and Founder of Authorium:
“What we’ve found in working to modernize procurement, contracts, grants, and budgeting is that it’s a balancing act. Yes, there is a need for speed. And to bring more innovative vendors to the table, especially when it comes to the acquisition of new technologies. At the same time, agency leaders are under enormous pressure to provide greater insight and accountability in how government moneys are being spent. The solutions that we are announcing today do just that: balance speed with insight and accountability.”
Series A Investment
Authorium has secured a Series A round at $12M led by SJF Ventures, supporting their mission to catalyze the development of highly successful businesses driving lasting, positive changes.
Daniel Geballe, Managing Director, SJF Ventures:
“Aligned with our mission focus, we are excited to support Authorium’s growth journey as they transform government procurement, contracts, grant administration, and budgeting workflows. The opportunity to deliver lasting, positive impact to government efficiency and service delivery is significant with this technology solution.”
Additional contributors included ServiceNow, as the second largest funder, and TFJ Capital and Nellore Capital. This funding round brings together outstanding partners in service of the public benefit mission of increased efficiency, speed, and capacity of government through technology.
Authorium’s solutions are now available. For more information, visit Authorium.com.
About Authorium:
Authorium is a mission-driven public benefit corporation providing a Document Process Automation platform to accelerate procurement, contracts, grant and budgeting by as much as 70%. The powerful no-code solution empowers government agencies to solve urgent problems with unprecedented speed. Over 60% of the team has previously worked in government, providing a deep understanding of the unique challenges facing federal, state, and large local agencies. Authorium’s mission is to make technology a force for social good in government through innovation. Learn more and schedule a demo at https://Authorium.com/.
Media Contacts:
Jay Nath
Co-CEO & Founder
Authorium
jay@cityinnovate.com
(415) 650-4075
Kamran Saddique
Co-CEO & Founder
Authorium
kamran@cityinnovate.com
(415) 840-8143
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