Your business needs supplies, and when it comes to getting the said supplies, you must acquire the right quality, at the right time, and, most essentially, at the right price. However, when working on multiple projects or with multiple suppliers, ensuring you get your supplies at the right negotiated price can be challenging. The Difficulty…
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…
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…
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,…
