Purchase to Pay

28 Oct

Posted at 13:00h in Procurement Best Practices, Procurement Process, Purchase to Pay, Purchase to Pay Process by
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It’s astonishing! At a time when we have Sarbanes Oxley and a culture of control, in the climate of transparency and scrutiny and a fetishistic focus on finance – how is it that fraudsters have been able to get away with a more than 50% increase in procurement related theft? But it’s not that astonishing really. A cursory glance at the procurement practices and purchase to pay processes in any organization will reveal opportunities to defraud and while we should never forget that it is the fraudster that’s to blame, the responsibility is shared with the executives who choose to turn a blind eye and underinvest in proper P2P.

23 Sep

Posted at 07:10h in AP Automation, Purchase to Pay, Purchase to Pay Process, Supplier Networks, Supply Chain, Supply Chain Finance, Working Capital Management by
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On the back of the extraordinary announcements over recent weeks , MasterCard and Basware have just declared another supply chain finance deal. It's a big deal and it's another sign if we needed it that products and services providing working capital support to business is one of the faster growing areas in B2B. I chatted to Esa Tihilä, CEO of Basware and Hany Fam, President, Global Strategic Alliances at MasterCard last week about this new partnership. It's good news for Basware - they now have an important new string to their bow, but I think it's even better news for MasterCard who couldn't have chosen a better partner.

17 Sep

Posted at 18:00h in AP Automation, Purchase to Pay by
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I love the way Nipendo describes itself– “the leading provider of P2P extreme platforms” – it’s like purchase to pay is a sport and Nipendo’s products are like cliff diving. I saw this description in their press release today about the Nipendo guarantee – a guarantee of 90% straight through processing. That is a big guarantee, one that some, especially Nipendo’s more traditional competition might say is too good to be true. But I’ve had a closer look and I would say to anyone examining the market place for P2P solutions - you can’t ignore this. So what does Nipendo actually say?

17 Sep

Posted at 13:29h in AP Automation, e-invoicing, Purchase to Pay, Purchase to Pay Process by
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Please forgive the contrived alliteration but it had to be done. Today, Basware and Bravo solutions announced a partnership that appears to create a powerful synergy from their individual strengths. Both best-in-class P2P solution providers. BravoSolutions' key strengths are in spend analysis and eSourcing while Basware are best recognized for their supplier network and the application suite aimed at automating procurement and AP. By combining both technologies the pair believe that they can "extend the value delivered to customers and plug the 'savings gap.” The press release issued today explains the detail:

23 Jul

Posted at 09:58h in Purchase to Pay, Purchase to Pay Process by
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A few years ago, I was walking down the street in Rugby, England when I heard a load voice shout "Pick that up!" The voice coming from a loud speaker high up on a lamp post. Some kids were hanging around and one of them had dropped litter. I didn't know until then that the CCTV camera footage was being monitored in real time. This is in the UK and I had thought, naively it seems, that CTV cameras in the street were there to help find missing kids and catch rapists. I abhor litter louts as much as anyone but a surveillance state seems like a bit of a heavy handed approach to keeping the streets clean. A few months later, I was in a cab in Oslo, Norway. There was a small camera pointed at me throughout the journey. I asked and the driver explained that all cabs have these cameras. The video footage is never looked at unless there's an incident - in which case, relevant footage will be examined. Seems like a great idea to me. Now you may ask, why am I bothered about a camera in the street but not a camera in the cab? Actually, it's for the same reason that I have a problem with Sarbanes Oxley and the growing cult of transparency.

15 Jul

Posted at 07:15h in AP Automation, Procurement Software, Purchase to Pay, Purchase to Pay Process, SaaS by
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I recently made some comments about Basware that were somewhat critical. It was positive, constructive criticism. I wanted to point out that Basware was ideally placed to become a monster. With one of it’s largest competitors sidelined somewhat by their acquisition by SAP, Basware could fall into the trap of becoming complacent – indeed, I have , from personal experience seen hints of this on the horizon. But I overlooked something – something that to an observer from outside of their organization could go unnoticed. It is the astonishing turn-around that Basware has performed, the foresight they have shown making that change and the energy and determination they have exhibited in completing it.

10 Jul

Posted at 09:14h in AP Automation, e-invoicing, Electronic Invoicing, Nipendo, Purchase to Pay by
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This week we’re delighted to welcome a new sponsor, Nipendo, to Purchasing Insight. Nipendo is fairly new on the P2P scene but in the five or so years that they’ve been about they’ve already made quite an impact with an impressive customer list which includes HP, IBM, Motorola, Pfizer and Office Depot. I was excited to speak to Nipendo’s CEO, Eyal Rosenberg,  a couple of weeks ago – I wanted to know what makes Nipendo’s proposition stand out from the crowd. We covered a lot of ground but the thing that stood out for me was the concept of E2E-invoicing. At first, I was a little skeptical but as Eyal explain more, enhancing his explanation with case study examples, the Nipendo vision became clearer.