80% of companies claim disappointment with the results of their P2P technology investments.
Source to Pay (S2P) and Purchase to Pay (P2P) rightly get focused attention as processes that can benefit from digitization. This attention is focused with the hope of achieving a particular “aspiration state” for the S2P and P2P process, that typically includes one or more of the following;
- Reduce maverick spend “improve PO compliance”
- Reduce cycle time of process – “make buying simple”
- Reduce cost of goods and services “improve contract compliance and vendor oversight”
- Reduce effort and cost of process operation “eliminate unnecessary (manual) tasks”
- Optimize working capital “agree and execute optimal payment terms”
- Manage risk “maintain visibility over supply, master data, cash, conflicts of interest etc.”
There are a plethora technologies and solutions that claim to be the “silver bullet” to help achieve them. The reality is more complex and nuanced and there are compromises and trade-offs that are rarely explained in the RFP and selection process.
Steve Standring has 20 years experience in the Purchase to Pay domain, from e-Procurement, P2P suites, dynamic discounting , supply chain finance. e-invoicing, and more. Steve has a unique perspective and will share his experiences, knowledge and perspectives with you. A former senior executive in the software industry that serves the Shared Services, GBS and S2P/P2P market, Steve offers us a “peek behind the curtain” at the facts, myths and realities of the various solution types.
Join us at 8am Pacific (coffee time), 4pm London (tea time) from anywhere in the world, on Wednesday 27th January to kick off 2021 with some insights and competitive advantage!
If you are unable to join the live session, please register as normal and you will receive a copy of the recording post-event.