In a small team, credit review, HSE vetting and document processing are often handled by different people with different spreadsheets, so a vendor can be approved for credit while their HSE review is still open or the other way around. Nobody has a single view of where each vendor stands overall.
Putting all three into one workflow, with a clear status for each part and a single overall decision, lets a lean team see what is blocking each vendor and who needs to act. Automating the document processing part also frees up time for the reviews that actually need a person.