In our endeavor to understand the key performance indicators relating to corporate processes and technologies for managing indirect spending and the P2P landscape, we conducted a worldwide study of more than 450 procurement organizations.
Presented in two parts, the first part of the P2P study reveals some interesting findings like;
On average worldwide, some 60% of corporate indirect spending is now being addressed by a controlled P2P workstream (RFQ/PO/invoice VS. invoice only)
Despite relatively strong rates of indirect spend now flowing through controlled P2P workstreams, many companies still appear to be struggling with the transition from better transaction documentation to consistently generating actionable analytics for procurement.
Only 40% of total indirect spending is currently considered addressable by procurement.