Optimizing Purchase-to-Pay (the business process of Requisitioning, Approving, Ordering, Receiving and Paying for goods and services) takes more than a “No PO No Pay” Policy.
Purchase to Pay, or P2P, typically touches a significant proportion of employees, spans the traditionally discrete business units of Procurement, Supply Chain and Finance, extends outside of your organization to suppliers, and covers multiple categories of spend across Direct, Indirect and MRO.
Some of the common mistakes we see are:
- Focusing on one particular dimension at the expense of others, for example treating P2P Optimization as a technology challenge; “build it and they will come”, or not actively engaging all affected stakeholders.
- Misjudging the organization’s level of maturity across the process, aiming too high too fast and setting unrealistic expectations thereby setting the program up to fail.
- Trying to adopt a “one size fits all” approach, rather than looking at how to optimize the process for the specific things the organization buys, tailored to people’s jobs and culture.
What does successful P2P optimization look like?
Join our P2P Digital Panel Discussion event
Featuring customer insights from Coca-Cola European Partners
Wednesday 19th May 2021 at 10.15am GMT
- Discover how Coca-Cola European Partners has approached Purchase-to-Pay (P2P) optimization as Jon Smith, Director of Source-to-Pay Transformation, shares his experiences of P2P challenges, and the solutions and processes that have contributed to successful project implementation.
- Learn how to tackle common P2P obstacles as we examine the differences across Indirect and Direct spend, from optimizing buying channels to utilizing personas, and more.
- Explore the role of supplier enablement and adoption in achieving true P2P optimization.
- Find out how to make buying simple through the “6 C’s” – Cost, Control, Compliance, Convenience, Connectivity, and Conscience.
- Hear how P2P optimization and enablement can support sustainability.
- Take the opportunity to ask your own questions with a live Q&A session at the end of the discussion.
Find out more about P2P optimization
in our latest blog
Successful P2P optimization is a true business transformation undertaking, requiring coordinated effort in change management, supplier enablement and technology implementation. In this blog, we explore how to optimize the three categories of spend: Direct, Indirect, and MRO.
Explore the 5 pillars of successful
Download your free P2P optimization guidebook for your sector
We recognize that P2P challenges can vary depending on your industry. This is why we have produced specific sector lens guidebooks helping you to discover the best practice techniques and solutions you can apply in order to overcome the specific P2P challenges faced within your sector.
Our first sector lens guidebook is now available. Find out how to successfully optimize P2P within the Energy and Natural Resources sector.
Further sector lens guidebooks in Manufacturing, Retail and Financial Services will be available in the coming weeks.