Technology has always been a part of building and improving supplier relationships with B2B partnerships; from the telephone to the fax machine, technology has helped businesses facilitate P2P processes and communications. This is still true today, yet the difference is the level of technology being used. In particular, the rapid advances with online technology…
Expanding you market reach with Digital Procurement While most modern B2B businesses are focusing on using digital technology to automate production, distribution, and client management processes, their procurement processes often remain stuck in analog mode. The immediate benefits of digitizing P2P processes, or digital procurement, may be harder to quantify than upgrading an assembly line…
The concept of improving supplier collaboration to improve those relationships isn’t a complex mystery, although achieving this common industry objective may seem to be at times. After a certain amount of collaboration fails, CPOs might finally ask: Is it as simple as upgrading AP departments and end-to-end P2P processes with automated digital solutions in the…
As markets connect on a world-wide level and technology continues to rapidly progress toward digital automation, businesses are constantly adapting to keep pace with the changes. In the process of this adaptation, businesses must be shrewd when choosing solutions; enterprise level organizations have the most to gain from streamlining their P2P processes, yet also the…
Manufacturing companies that operate their Procure-to-Pay (P2P) processes so that Supplier Relationships are collaborative, data-driven, strategic alliances improve client quote generation. They are lean, strong, agile supplier relationships that aren’t siloed to strict, expensive parameters. They develop with trust and time through transformative iterations that eliminate unnecessary processes, so your quotes aren’t ambiguous and give…
Maverick spend doesn’t promote efficient Procure-to-Pay processes or strategic supplier relationships since it takes purchasing outside the realm of your company’s e-procurement system. It doesn’t promote contractual compliance and it undermines trust and transparency. Whether you call it maverick, indirect, rogue or tail spend, “it’s the same challenge and leads to the same results–wasted money…
Manufacturing companies that operate their Procure-to-Pay (P2P) processes so that Supplier Relationships are collaborative, data-driven, strategic alliances improve client quote generation. They are lean, strong, agile supplier relationships that aren’t siloed to strict, expensive parameters. They develop with trust and time through trans-formative iterations that eliminate unnecessary processes so your quotes aren’t ambiguous and give…
Supplier relationships are highly dependent on the procure-to-pay (P2P) architecture that you have in place. Efficient P2P processes can build and improve your supplier relationships. The traditional architecture uses a combination of paper documents and ERP systems. The goal is to streamline a workflow by digitizing a portion of the procurement process. The problem is…
Supplier relationships often dictate how effective your business actually operates. When you have sound and efficient supplier relationships, you get the supplies and services that you need quickly and affordably. When you’re relationships are on shaky ground, it results in bigger problems for your operations. Many of these problems will also start to impact your…
It’s no secret that manual Procure-to-Pay (P2P) costs sap efficiency and drain budgets. When supplier invoice approval and processing lags, it’s tough to get requisitions in on time, checked against contracts and paid. Automating your P2P processes and refining workflows are critical for efficiency, reducing waste, and for tracking your key performance indicators (KPIs). “More…
