Building of Supplier Alliances: Supplier relationships operating in traditional, waterfall workflow silos are still common in manufacturing companies. The Procure-to-Pay (P2P) processes tend to follow strict parameters, with a flow that’s dependent on the preceding requirements. There’s no iteration. Any deviation from the path requires procedural approval that costs time and money. Following agile workflows…
Reconfiguring Your Supplier Relationship Mindset Sometimes the tried-and-true becomes the tired-and-disengaged. Traditional Supplier Relationship Management (SRM) tends to manage communication down a one-way street, from your company to the supplier. When supply runs low, your company orders, waits on signatures, approvals, and fulfillment schedules. Sales representatives visit your company on predetermined agendas. Drawn-out contract terms…
In almost every business, internal transactions cover only part of your enterprise resource planning (ERP) needs. Past a certain point, improving your own systems and records can only do so much when it comes to efficiency. If, for example, suppliers are not on the same page when it comes to purchasing and tracking, then it’s…
A Deeper Look at iApprove™ Capabilities – Approval Routing Processes with Something Better iApprove is one of the most powerful and comprehensive tools within the ISS Group’s Business Procurement Optimization software solution suite. A configurable rules-based Approval Routing and Buyer Alert solution, iApprove utilizes the ISS Group Advanced Approval Routing Technology (AART™) for routing of Approvals…
Building the perfect procurement strategy takes careful consideration and planning. It’s a process that can take years of hard lessons learned and refining. Don’t overlook Approval Control into your Procure-to-Pay Workflow. Once you have everything tweaked to suit the needs of your operation, rolling out your approval process is the final piece that brings your…
Digitize these 7 Key Process Activities Download the presentation on the Procure-to-Pay (P2P) process for QAD EA, presented by Sean Brown, IT Manager at Somero Enterprises, at the MWUG Conference October 9th in Grand Rapids, MI. To a packed session, Sean discussed what P2P is and the benefits of ‘Simplifying’ the Procure-to-Pay Process, reviewing…
Automation for Every Step of the Procure-to-Pay Process Adapting your organization to the modern business climate means automating and integrating your work flow. Automation saves valuable hours of manual work and lowers the cost of production for companies. Integration makes insight-rich information more readily available for making informed business decisions. That’s the accepted theory that’s behind the ongoing mass-migration to cloud-based,…
In the procurement space, organizational compliance, and adhering to strict spending caps is a challenge. Occasional noncompliance may seem harmless, but overspending becomes a problem when the economy becomes more volatile. We build spending caps into our work flow to avoid vulnerability to major swings in the economy, not for marginal profit padding when the…
The Procure to Pay Process demands a huge amount of resources. Just putting together the basic pieces – RFQs, contract management, payment processing, and filing documentation – requires dedicated staff and a variety of software solutions. Add on top of that spending caps, regulatory compliance, and data collection for executive decisions and you get the…
