What are the core functions of procure to pay ( P2P )? AS : Procure-to-pay ( P2P ) is – put simply – the function that allows an organisation to request , buy , receive and pay for essential products and services . Done right , P2P solutions can empower employees and suppliers , simplifying the buying experience , providing transparency , optimising cash management , maximising compliance and managing spend effectively . AS :
WM :
EMPOWERING EMPLOYEES
& SUPPLIERS
WITH ADVANCED
P2P SOLUTIONS
Gartner ’ s William McNeill and Ivalua ’ s Alex Saric discuss all things P2P including innovations , collaboration , sustainability , risk management and more
WRITTEN BY : GEORGIA WILSON
What are the core functions of procure to pay ( P2P )? AS : Procure-to-pay ( P2P ) is – put simply – the function that allows an organisation to request , buy , receive and pay for essential products and services . Done right , P2P solutions can empower employees and suppliers , simplifying the buying experience , providing transparency , optimising cash management , maximising compliance and managing spend effectively . AS :
Alex Saric , Smart Procurement Expert at Ivalua
WM :
William McNeill , Research Director , Gartner Supply Chain Practice
How are leading P2P organisations enhancing their offerings with advanced technologies ( AI , real time analytics etc .)? AS : Advanced technologies are greatly enhancing the value of spend management technologies , P2P included . Once viewed as nice-to-haves , as the technologies mature , they have become vital to realising the full potential P2P solutions offer .
For example , AI is improving the user experience and adoption through virtual assistants , such as Ivalua ’ s IVA , that quickly guide users to the goods and services they need .
Decision-making is improved by advanced analytics which bring together data from suppliers and stakeholders ,
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