The Benefits of Modernizing Procure-to-Pay

 

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In any organization, procurement and accounts payable activities are closely linked through the procure-to-pay process. Organizations with a high-performing procure-to-pay process have realized that efficiency in both types of activities can result in clear benefits to the entire process.

One way that organizations are looking to improve their procurement and accounts payable activities is through modernization, namely the adoption of technology that can improve the efficiency of these activities. Recent APQC research reveals that many desire to modernize procure-to-pay but are slowly making progress on adopting technology to support that modernization.

This article originally appeared in the September/October 2015 issue of Supply Chain Management Review.

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