Purchase to Pay

10 Nov

Posted at 16:04h in Dynamic Discounting, e-Procurement, Electronic Invoicing, Procurement Software, Purchase to Pay, Purchasing Card by
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Mathematics is fascinating,  not simply because of its mystery - detailed understanding of modern mathematics is beyond most of us - but also because of the amazing theoretical journey that mathematicians go on to reach practical destinations. So called “imaginary” numbers had been described in...

04 Nov

Posted at 20:07h in Insights, Purchase to Pay, Supply Chain by
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Standards in B2B are a waste of time. They are a waste of energy, intellectual capacity and money. They have no place in the business world in 21st century. For as long as I can remember, the great and good in the B2B world have espoused the use of standards as a fundamental component of business communication in the technology enabled world - yet they have simultaneously complained abut the number of standards that are out there. Surely its about time that we all realized and accepted that further attempts to evangelize and impose standards will not work. They’ve never worked in the past. If they had, there would not be so many standards today (not to mention the numerous standards bodies). We normally learn from our mistakes - once bitten, twice shy. In the B2B world - once bitten, twice bitten.

16 Oct

Posted at 11:16h in Dynamic Discounting, Purchase to Pay, Purchase to Pay Process, The Rest, Working Capital Management by
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Purchase to Pay, P2P and Dynamic DiscountingThere's much talk about dynamic discounting and how it can yield significant returns on investment but dynamic discounting is absolutely not the first step in extracting value out of purchase to pay optimization - it is the final step. Let's go back to basics and remember that P2P is not a core function of an organization. Rather, it supports the core functions such as sourcing and procurement, accounts payable and finance. Purchase to pay develops and installs synergy across the physical and financial supply chain and uses technology to support better ways of working to reduce the cost of doing business with suppliers.

20 Aug

Posted at 08:41h in Purchase to Pay by
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Purchase to Pay, P2P and Dynamic DiscountingA 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”