How to Boost Your Bottom Line by Integrating Procure-to-Pay Processes
An Executive Summary from CFO Publishing
It’s time to think differently about procurement. Some senior finance executives already are.
They’re putting real effort into integrating accounts payable and procurement activities in order to extract value from procure-to-pay processes and reliably capture more savings, gain visibility into spending, reduce risk, and improve working-capital performance.
They’re looking into recent advances in technology and automation, including...
- business networks and their capacity for enabling buyer-supplier collaboration
- source-able information, its breadth, depth, form, variety, and usefulness, and how it can improve the timeliness, accuracy, and accessibility of procurement-related information
- social media as a means to facilitate collaboration and information-sharing within companies
And the benefits they’re achieving include catalogue control, contract compliance, working capital improvements, discount capture, and process cost containment.
The bottom line: You can boost your bottom line by integrating P2P processes and bringing them together on a single technology platform. Download CFO’s executive summary to learn more.