Where does your Purchase-to-Pay process stand in The Hackett Value Grid?
The procure-to-pay technology market is fast evolving. With an aim to cut down on inefficiencies through manual work and save on time, CPOs today are looking at P2P solutions that can help them automate the process and gain greater visibility into indirect spending. Solution providers on the other hand are offering solutions that are flexible and have a B2C-like shopping interface. Thus helping the CPOs increase the user adoption rate.
A 2013 Hackett Group study on P2P Performance stated that –
- End to end process alignment is now the norm, Purchasing Operations and Accounts Payable leaders must collaborate on process improvements and global process standardization to get ahead
- Top Performers continue to lead in technology enablement while peers still have room for improvement. Beyond efficiency gains, process automation is foundational to driving greater process value through spend visibility, guided buying, increased discount realization, and working capital improvement
Bearing this in mind, Zycus has collaborated with The Hackett Group for Purchase-to-Pay Value Grid StudyTM. This study provides organizations the opportunity to measure and benchmark performance of their end-to-end Purchase to Pay (P2P) process.Participate in the study to:
- Get a customized report from The Hackett Group analyzing your organization’s P2P process.
- Know your position in the Hackett P2P Value GridTM – The Hackett Value Grid™ clearly shows your firm’s performance in comparison to world-class and a relevant peer group. Only those firms that reach the top quartile in both effectiveness and efficiency metrics meet the Hackett definition of world-class.
- Baseline assessment of current-state performance against 50+ key metrics focused on efficiency (e.g. cost-per-transaction, cycle times, productivity, etc.) and effectiveness (e.g. channel strategy, first-pass match rate, early payment discounts, etc.).
- Framework of 25+ best practices to reduce cost-per-transaction, increase process efficiency and effectiveness, and optimize working capital
- Build a business case outline for driving improvements across purchasing operations, account payable and p-card management