In our last blog we discussed the key measures that organizations can take to improve the P2P process efficiency.
Let us now discuss,
What Steps Can Lagging Performers Take to Close the P2P Efficiency Gap?
For those organizations that find themselves lagging behind the most efficient P2P performers, it might be tempting to simply redirect purchasing staff away from tactical buying and towards more strategic pursuits, but nothing is quite that easy. In fact, the tactical buying activity, mundane as it may be, still needs to be get done – by someone.
For world-class organizations, that someone is just much more likely not to be a procurement resource. They have wholeheartedly embraced P2P automation as a way to promote self-service – and not just for end-users, but for suppliers as well.
For world-class organizations,75% say that their P2P process enables users to efficiently find and order goods and services from preferred suppliers on their own, following a highly efficient or well-designed process, while only 25% of the peer group would make the same assertion – two-thirds would instead cite compliance and ease-of-use as ongoing challenges.
58% of world-class performers have made an up-front investment in supplier self-service technologies as compared to just 21% of all others; they have reaped the efficiency benefit of allocating far fewer resources to transactional buying.
Stay tuned as in the next blog we lay down the action plan for closing the current P2P efficiency gap.
