Your path to true financial agility
A company travels on a steady stream of cash. When that flow dries up, the company stops dead in its tracks. Despite its mission-critical importance, four out of five companies cannot accurately forecast their current cashflow situation. Excuses vary—different countries, different business units, different currencies. And yet, most remain convinced that they are firmly in control. Ask yourself – how sure are you?
Full spend visibility is just one of the many clear benefits easily attainable with a purchase-to-pay solution. But remember, Purchase-to-Pay is not an all-or-nothing proposition. Companies realise substantial gains as soon as they adopt e-invoicing and start automating their invoice processing. These gains are amplified as companies continue to further automate and integrate their Accounts Payable, Accounts Receivable and Procurement processes.
It is easier to envision the road to attaining full purchase-to-pay excellence in four well-defined stages of evolution.
The Emerging company – an emerging company has had the foresight to adopt automated invoice processing enabling greater efficiency with the automated matching of invoices against purchase orders and contracts.
The Aligned company – an aligned company achieves better spend compliance and control through integrated procurement and finance processes. Building on this success, they boost their Procurement and Accounts Payable efficiency by outsourcing their scan & capture and adopting an eProcurement solution to enable compliant purchasing at the point of need.
The Networked company – a networked company reaps substantial sustainable savings while commanding even greater spend control when they introduce sourcing, contract management, and travel & expense management solutions. Realising the strategic and cost advantages, they push for even closer cooperation between their Accounts Payable and Procurement departments, and accelerate their e-invoicing coverage across their global supply base.
The Agile company – an agile company has experienced firsthand the powerful strategic benefits that spend visibility, cost savings, and increased efficiency can have on the financial performance of the corporation. The successful adoption of a full, end-to-end Purchase-to-Pay solution – integrated with trading partners – allows it to actively manage KPIs as well as continually benchmark its program with its peer group. Near-total supplier connectivity pushes straight-through processing levels close to 100% for world-class efficiency across the supply chain.
