How to Diagnose and Fix Problems with Your Procure-to-Pay Model
Procure-to-pay (P2P) is a value chain with many moving parts that span procurement as well as finance. The challenges related to P2P can come from a lack of clarity about roles and responsibilities for parts of the process, confusion from customers who find the process too complex, or an inability to focus on strategic and value-added work in the midst of daily transaction processing.
This article draws on insights from ScottMadden (a management consulting firm with expertise in shared services and P2P) to provide an overview of common P2P challenges and highlight a tiered service delivery model that enables organizations to get the most value from their procurement technology.