Posted at 08:41h
in Purchase to Pay
A one size fits all approach just won’t work with purchase to pay. And that’s not just intuition or experience informing that view.
The Hackett Group reported this in their May Procurement Metric of the Month : “Many organizations define sourcing and supplier management processes by spend category as the basis for understanding how to best source and manage their suppliers. However, they often do not specify how to buy from and pay those suppliers based on the nature of the spend category and the needs of stakeholders (spend owners, requisitioners, suppliers, etc.). While companies usually have some type of “n-step” sourcing methodology, they may have tens if not hundreds of different ways to buy and pay for goods and services. This can reduce efficiency and customer satisfaction and lead to higher noncompliance rates and greater risk”