The current global economic state is forcing business leaders to rethink their investment strategies including procure-to-pay (P2P) and full source-to-pay (S2P) applications. But during any turbulent times, it can be tough to get buy-in for complex, larger scale projects. So how can organizations make the next step in their business investments without coming up short on ROI?
So, why now?
If your S2P initiatives are under scrutiny due to factors such as budget restrictions, compliance concerns, economic uncertainty, and limited resources, starting smaller with phased, quick wins is a surefire way to deliver speedy success. Instead of trying to implement an entire end-to-end S2P solution in one go, Gartner and many other analysts are recommending phasing your investment strategy. Some common starting places for your investment are:
A Multivendor, modular approach
We believe a multivendor strategy to allow you to build your procurement and sourcing applications around key business needs. This type of business philosophy has an open architecture at its core which emphasizes coexistence with other best-of-breed finance and procurement solutions to ensure that innovation and depth of functionality is always met. This means organizations are empowered to deploy the latest and greatest finance and procurement innovations best fit for their needs and business strategy. This type of business ecosystem approach offers:
Centralised spend data with total visibility
Flexible and scalable capabilities that can grow with your business
Faster ROI and time to value due to quicker integration times and plug-in abilities
Elite APIA and CLM capabilities
Learn more about the benefits of a multivendor approach to your S2P strategy
Download the report.