P2P Tag

You think purchase to pay is a back office function? e-invoicing is a technical innovation? AP automation an incremental improvement to financial supply chain management? And you wonder why nothing ever gets achieved. P2P is as boring as you make it. The reality is though, that purchase to pay, positioned properly, can deliver commercial benefits on a scale that would astound most executives.

Purchasing is a complex set of interconnected and dependent people, processes and technology. - market knowledge; benchmarking information; purchase to pay and accounting systems and processes and last but by no means least - data. Data - your procurement organization's Achilles heal.

One of the leading financial and business advisers, Grant Thornton Sweden, has deployed an invoice processing solution from enterprise purchase-to-pay specialist Palette as the backbone of its internal and hosted electronic invoice management (EIM) service. Grant Thornton Sweden is one of the leading financial and business advisers, providing services in Sweden and internationally. Currently processing around 30,000 invoices per month for over 300 customers both in Sweden and internationally, Grant Thornton’s EIM service improves the efficiency of customers’ accounts payable, as well as optimising the company’s own internal invoice management system.

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.