Procure-to-Pay process: The major impact of indirect purchases

10% savings on indirect purchases can produce up to 50% increase in sales benefits Faced with this observation, indirect purchases which until now having been considered to be the “poor child” of purchasing, are undergoing a real transformation: 76% of the companies questioned have an Indirect Purchasing Department and 57% manage them differently when compared

Want your Invoices Paid within 30 days? Try 1.2

Out of 15,625 reports of UK companies’ payment practices, 5,439 companies reported that they were paying their invoices within 30 days. That means 65% of companies that have reported their payment practices are taking longer than 30 days to pay suppliers upon receipt of an invoice. Why is this? It could be due to a

If AP Ain’t Broke, Don’t Fix It… Or Should We?

It seems that a culture has emerged of “If AP ain’t broke, don’t fix it”. This is not specific to any level of a business, generation, or gender. Instead this idea seems to be reinforced by professionals who can’t see the benefits to automating accounts payable, when compared to a completely manual process. Whilst keeping

Knowledge is Power for P2P

We all know that knowledge is power, what we don’t know is how to acquire said knowledge. It’s easy to implement an automated solution to complete a process, but how can you maximise the benefits from your solution if you don’t gain any knowledge or experience from it? In the days of cloud technology, sharing

The P2P Business Case – Successful Implementation

Everywhere you look in today’s business environment you will find two words ‘Digital Transformation’. Going digital is the primary route to keeping pace with demands on all aspects of individuals and organisations. These two words which can, do, and in some instances have placed a measure of fear in many of us, will continue to

Seven Predictions for Finance and Procurement

In a challenging geopolitical landscape, where long held assumptions around the fundamental principles of world economics are being questioned, many organisations are looking to new ways of thinking and technology to protect them against risks and take advantage of any opportunities. This year will see ongoing changes in several different areas: Let’s Get Connected It