All about touchless P2P
Across procurement and finance, hands-on processes are a main driver behind lack of critical insights—affecting everything from managing spend to supply assurance. And when those inefficient processes, like manual supplier onboarding and invoice matching, make it hard to sort through purchase and payment data to make game time decisions, you’re losing your ability to think long-term. Digitizing source-to-pay (S2P) can help.
- 6 P2P challenges (but they're solvable!)
Chief procurement officers have a real opportunity to make step-change improvements across the procurement agenda. They can break down data silos that exist, develop an end-to-end strategy, set up their teams to be successful in any market condition, position procurement to be more strategic in the long term, and more.
But first, you’ll need to get a grip on your legacy processes and technology, including these 6 common challenges.
- What is touchless P2P?
Procure-to-pay (P2P) is one of your most important business processes, spanning almost every business activity. From supplier research and negotiations to master data and contracts, everything must transition smoothly to P2P purchase orders, delivery, invoicing, and final payment for goods and services received. Yet, the reality is that P2P remains a mystery to many, if not most, of the key players involved. We break it down.
- 5 pillars of touchless P2P
Touchless P2P can seem too good to be true, especially if you don’t know where to start. We’ve identified five pillars that will set you up to achieve the promise of touchless P2P.
- How touchless P2P helped one organization
One commercial food services equipment company wanted to identify technologies that could generate efficiencies in procure-to-pay processes. And with Coupa, they saw a 100% improvement in paid-on-time percentage. See how.
- Reach touchless P2P nirvana
Whether you work in sourcing, procurement, finance (including treasury), or legal, you have a vested interest in achieving touchless P2P. Check out the step-by-step guide to achieving rich business dividends by addressing the five key pillars of automated P2P.
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