TECHNOLOGY
“ P2P solutions help a procurement organisation become more efficient and strategic thus contributing to their own sustainability ”
WILLIAM MCNEILL , RESEARCH DIRECTOR , GARTNER SUPPLY CHAIN PRACTICE
How can organisations benefit from collaboration in the P2P process ? AS : Collaboration has become increasingly vital for procurement , both with other departments such as finance , and with suppliers . Today ’ s top business challenges benefit from collaboration in the P2P process . For example , supply continuity can be improved by collaborating with suppliers on planned orders and forecasts . Suppliers regularly point out that they are more willing to share innovations with customers that provide timely and transparent payments . And reducing a businesses ’ carbon footprint requires collaboration on targets , improvement plans and alternate product options with environmental impact details .
This is an area of significant differentiation for P2P technologies . Point or legacy P2P solutions often struggle to drive supplier enablement , lack collaboration capabilities and integration with other steps in the procurement process where critical information is captured . P2P solutions that are tightly integrated , make it simple and cost-free for suppliers to join and enable secure , efficient communication and information sharing greatly improve collaboration and , as a result , position businesses to succeed in today ’ s volatile market .
For example , by adopting Ivalua ’ s cloud-based P2P solution , Maxim Healthcare was able to onboard more suppliers in just eight weeks than in the previous seven years with a legacy system . This drastically improved efficiency , visibility , and control on spend .
86 January 2022