Spend Analysis Tag

07 Apr

Posted at 11:37h in Purchase to Pay, Purchase to Pay Process, Purchasing Process by
1 Like
Have you ever installed the plumbing in a large office? Neither have I. And if I did I would hold out much hope of it not springing a leak or two. It's a complicated business and you would think twice about having your corporate plumbing  installed by anyone other than a trained professional. It's a shame that most organisation don't apply the same rigour when it comes to installing P2P processes. It's a useful analogy. Installing only half of the purchase to pay process is like installing half of the plumbing. Turn the water on and it will be like a monsoon. Both ends of P2P need to be joined up - but knowing which purchasing component joins with which payment component isn't always obvious.

09 Jul

Posted at 11:16h in Procurement Best Practices, Purchase to Pay, Purchase to Pay Process, Spend Analysis, Vendor Risk Management by
1 Like

What gets measured gets managed. It's a slightly tired truism but it's very relevant to Purchase to Pay and, sadly, often overlooked. Most P2P (Purchase to Pay) projects are justified as a means to reduce cost. They introduce efficient processes that allows  purchasing payment and accounting...