Search
Close this search box.
Horizon 2024 is here! Join hundreds of procurement visionaries in Miami on May 15-17, 2024. Register Now!

Home » Blog » Procurement Technology » Three Characteristics of Top-Performing Purchase-to-Pay Organizations

Three Characteristics of Top-Performing Purchase-to-Pay Organizations

How can Marketing and Procurement work better together
Zycus Recognized as a Visionary in the 2024 Gartner® Magic Quadrant™
TALK TO PROCUREMENT EXPERT
Consent
This field is for validation purposes and should be left unchanged.
Table of Contents
Subscribe for the Latest Posts
This field is for validation purposes and should be left unchanged.
Disruptive technology innovations, market volatility, and increased competition are creating major challenges for purchase-to-pay groups today. To respond to these challenges, purchase-to-pay organizations must balance the traditional focus on cost with a new emphasis on agility. Top performers in our research database have responded by mastering three core capabilities: meeting the needs of stakeholders (as opposed to just operating at the lowest possible cost); making decisions based on data, not just intuition or history; and leveraging technology to eliminate paper and manual work wherever possible.
Although not historically considered a strategic function, purchase-to-pay has a critical role in overall business agility today. Top performers treat purchase-to-pay as an end-to-end process and consider it essential to effective sourcing and supplier management practices.
Key takeaways from the report:
• Top performers in purchase-to-pay use e-invoices at a rate that is 3.7 times higher than the peer group.
• Top performers are two times more likely to resolve accounts payable inquiries through self-service.
• Top performers order 43% of indirect line items through e-catalog versus only 20% of peers.
Don't Forget to Share
Zycus is a leader in Cognititive Procurement. A leading SaaS platform used by many large enterprises across the globe for enabling efficiency and effectiveness of the procurement function.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top