P2P STRATEGIES
is suboptimal – even if you have good systems in place . It ’ s the policies , processes , practices and relationships that you have with the business that ultimately controls spend ,” says Harmeston .
“ The influence of procurement leaders varies a lot so the need to approach transformation at a controlled pace is an imperative ”
MARK
REDDY DIRECTOR OF SPEND & GOVERNANCE , ADVANCED
What does a successful P2P strategy look like ? A successful P2P strategy is one that takes a comprehensive approach to procurement , while also being efficient and costeffective . Mark Reddy , Director of Spend & Governance at Advanced states : “ It should include a focus on automation , digitisation , and data analytics to improve the overall procurement operation . The use of Cloudbased procurement software is fundamental for enabling collaboration between teams across various locations .”
When you ’ ve got a really good P2P strategy in place the dashboard at executive level is regularly used , category strategies are understood , the systems are user-friendly and accessible , analysis can be done ad hoc , you ’ ve got data excellence for meaningful management information , and it becomes a part of the everyday processes and practices .
“ You can get lots of data from a P2P system ,” says Harmeston , “ but that data needs to become meaningful information to drive strategic decision-making .
The benefits of a successful P2P strategy include freeing up staff time for more strategic tasks , the business and procurement working more closely are together , better forecasting and budgeting capabilities , reduced invoice reconciliation issues , the ability to draw down accurate spend data ( per supplier per category real time ), and a simple and effective ordering process which can be accessed outside of the office .”
Technology place in a successful P2P strategy Playing a critical role in the procurement function , technology enables organisations to streamline its operations by minimising the time and cost associated with manual
60 February 2024