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Where does your Purchase-to-Pay process stand in The Hackett Value Grid?

By Roshnee
In Procure-to-Pay
Jun 2nd, 2015
0 Comments
3563 Views

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

 

The Purchase to Pay Benchmark Study

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

For conversations around P2P, join Hailey Lynne McKeefry, Editor in Chief at EBN and Zycus for a Twitter chat on June 4, 2015 from 2 – 3pm EST, using #P2Pinsights. Enter the Hackett P2P Survey

 

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About "" Has 167 Posts

Roshnee works with the content leadership team of Zycus. She regularly writes on procurement - trends and best practices, sometimes taking the off beat path to bring in a fresh perspective. She also drives the branding activities of her company. In her free time she enjoys hot cuppa coffee with the latest fiction book. She is an MBA in Marketing and a graduate in commerce.

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