Benchmarking Procure-to-Pay Transformation white paper

Benchmarking Procure-to-Pay Transformation white paper

How to Approach Procure-to-Pay (P2P) Automation Based on the Current P2P State

In order to build a successful Procure-to-Pay (P2P) process, which includes the requisitioning, purchasing, receiving, paying for, and accounting of indirect goods and services, organisations must complete a few important steps. One is to create full synchronisation between procurement and accounting departments, which facilitates transparency and more strategic financial planning. Another is to automate the P2P process, which improves an organisation’s control over spend, reduces costs, and fosters thriving supplier partnerships.

While fully automated P2P processes can be a reality for any organisation, the journey will be more complex for some companies than for others. P2P automation is not one-size-fits-all, and the adoption process will differ depending on a number of factors, including a company’s current state with respect to automation. Some companies may already have some automated processes in place, such as with an ERP-based or homegrown system. However, these tools typically do not bring companies the holistic data management and efficiency that is possible with more advanced options, such as today’s leading cloud-based P2P solutions.

The result of a fully automated state and full visibility into company data will be an improved ability to control costs, manage cash flow, and facilitate on-time delivery of goods. To successfully automate the entire P2P process, an organisation must evaluate its current state to determine how and where P2P automation software fits. This whitepaper is intended for organisations at various stages of a P2P automation transformation. It offers a set of current state scenarios against which organisations can benchmark themselves to understand how they can successfully gain full automation in their P2P processes.

Download this whitepaper to learn more about:

  • P2P Adoption trends

  • P2P Current State Benchmarks

  • Strategies for leveraging P2P Automation according to unique current state environments