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.
You can watch the full webcast recording below…
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