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The Benefits of Procure-to-Pay

ivalua

At Ivalua, we’ve seen how a Procure-to-Pay business process ensures sustained benefits through good buying practices, improves visibility and swifter issue resolution, and enables proactive management of suppliers. Spend is led away from preferred suppliers. Lots of new suppliers added on a regular basis. Case in Point.

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8 Tips to Help Procurement Optimize Supplier Master Data

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Gartner predicts that by 2023, organizations that don’t optimize supplier master data management (MDM) could have wrong information for half of their suppliers! Accurate supplier master data (SMD) is essential for procure-to-pay (P2P) automation, accuracy and analytics, but connecting data to users and systems sometimes gets bumpy.

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The Benefits of Procure-to-Pay

ivalua

At Ivalua, we’ve seen how a Procure-to-Pay business process ensures sustained benefits through good buying practices, improves visibility and swifter issue resolution, and enables proactive management of suppliers. Spend is led away from preferred suppliers. Lots of new suppliers added on a regular basis. Case in Point.

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How Procurement Can Add Value To Supplier Master Data Management

ivalua

Master supplier data doesn’t just matter to Procurement. Accurate supplier data is the fuel that drives critical business processes that impact the bottom line. Spend analysis — Improves negotiation position and leverage and increases contract compliance by correctly aggregating spend to the appropriate parent supplier.

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Ivalua Payments Part II: Using Payments to Become the Customer of Choice

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The largest identified gap between procurement and payment is the Accounts Payable (AP) process. In order to truly cross this chasm, your business does not require major construction, but simply a supplier self-service portal. Ultimately, from an Accounts Payable perspective, they are tail-end suppliers, or even a one-time supplier.

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AP Automation Superheroes Assemble

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According to Walden, the three main barriers to digital transformation are a lack of supplier adoption, poor matching rates and broken process silos: Lack of supplier adoption: Suppliers have a wide variety of invoicing capabilities, depending on their level of technological maturity and the systems they use.

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#1! Are you a Supply Chain Digital Champion?

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To stay ahead of all of these risk factors and changing demands, organizations need to discard their linear supply chain models and embrace an autonomous, end-to-end connected ecosystem. Smart Logistics connects physical shipments and information flow from suppliers and manufacturers to customers in real-time.