PROCURE-TO-PAY
Anticipated innovations and trends When asked which innovations he expects to see emerge in the P2P space in the next year or so , Hajdas replies : “ Perhaps not a specific innovation – but an innovative approach to how we invest across procurement and payables is likely .
“ We are so used to looking for one-size-fitsall solutions that will solve all of our challenges . However , I think that ’ s not always the most optimal decision , and sometimes it ’ s just not possible to deliver on such expectations .”
At present , there are many start-ups which , rather than solving the inevitable cascade of problems , specialise in solving only a very few . On some occasions , a dedicated fix may just be the right approach .
“ If we sign up early enough ,” says Hajdas , “ we might just get the perfect solution , as start-ups are more flexible in accommodating clients ’ needs . However , to maintain all of these integrations would require an increased demand for IT support . Whatever the case may be , I expect the trend in allocating a portion of the budget to smaller-scale companies and start-ups to only get stronger over the coming years .”
Another trend that Hajdas feels will most likely continue is the struggle for talent . He says : “ In the move from transactional organisation to transformation hub , further investment in technology or standardisation is going to trigger an increased demand for the right people with the right skills .
“ As we mature in our journey to automate , capacity release should be re-invested in upskilling and retraining the teams . As a consequence , it ’ s possible that some organisations will choose to outsource extra processes in order to drive additional benefits , particularly if there is not enough scale inhouse .”
110 January 2023