P2P

Approaching continuous improvement in a P2P environment can seem like a daunting task. It can be difficult to determine how to begin an endeavor that, by its very name, has no end. Matthew Molter,… Read More

Most organizations run P2P in two separate silos: Procurement is responsible for selecting and negotiating terms with vendors and then ordering goods or services from those vendors. And then the… Read More

When AP practitioners discuss improving P2P, the conversation almost invariably focuses on automation. Which technology would accelerate how quickly we: scan invoices, match the invoices to POs,… Read More

Phase #3: Are You Ready to Automate?

Step 5 — Considerations Before Investing in New Technology

One of the most common, and expensive, mistakes made when trying to improve procure-to-pay is… Read More

Phase #1: Know What and How You Execute P2P

Step One: Define the Problem

Improving procure-to-pay (P2P) isn’t just about squeezing out costs or freeing up time. Poorly run processes can damage… Read More

Phase #2: Standardize and Specify How the Work Gets Done - Step 3: Standardize Roles and Responsibilities Identifying how the process should run, and by whom, is crucial to driving… Read More

When AP departments are able to process payments quickly and accurately, they not only keep management and vendors happy, they can also garner valuable discounts from their vendors by paying… Read More

By Pam Miller - The concept of the “expenditure cycle” has been discussed and studied for many years in textbooks—even though many of us have never heard the term. At its most basic level,… Read More

By Pam Miller - Things are humming along—invoices are being processed as efficiently as possible when, wham, no vendor in the system! Efficiency vanishes when this exception has to be processed… Read More

In partnership with finance, today's procurement function is increasingly moving beyond its traditional role of acquiring goods and services at the lowest possible price and leveraging its expertise

… Read More