A step-by-step approach to achieving true financial agility
This purchase to pay guide will help you identify where you currently are in terms of Purchase-to-Pay (P2P) maturity, and the actions you should take to reach a world-class level of financial agility.
Working with businesses across the globe, we’ve identified four stages that organizations evolve through as they adopt more automated and networked functionality for their purchase to pay processes.
The 4 Steps to true financial agility:
- The Efficient Company: Establishing a solid accounts payable process introduces control and visibility. Commonly focus is around getting rid of paper via accounts payable automation and e-invoicing.
- The Aligned Company: Is breaking down silos so that Finance Control, Accounts Payable, Treasury and Procurement are all part of a coherent Purchase-to-Pay process. Spend under management increases.
- The Networked Company: The focus has shifted beyond operational efficiency to strategic impact. The company is forging strategic relationships with suppliers, creating significant value for both the company and its suppliers.
- The Agile Company: Has achieved world class performance across the purchase to pay process and beyond. Each stage of the process has been integrated and optimized, resulting in operational excellence that impacts bottom-line performance. They have networked with their suppliers and customers and are leveraging ‘best-fit’ payment programs to optimize working capital in the financial supply chain.
“ The successful execution of the P2P strategies that impact cash positions requires a level of cohesion and visibility across the entire P2P process that is usually best supported by technology solutions.” - Andrew Bartolini, Chief Research Officer, Ardent Partners.
Download the guide to learn more.