Preparing for Business Growth: A look back at a month of resources.
The end of 2019 is all about gearing up for 2020, so our November (and December) resources are all dedicated to helping you prepare for business growth as you’ll read in this DetermiNews. Process automation across procurement and payables was a focus this month, for the simple reason that it makes a major contribution to efficiency, compliance and bottom-line impact. Not a bad way to start the year.
81% of CFOs see identifying and targeting areas of new value across the business as one of their main responsibilities, and they recognize that to truly accomplish organizational transformation, P2P process automation is the key to accelerating business growth. That’s the net takeaway from an IOFM whitepaper called 4 Ways Procure-to-Pay Automation Helps Accelerate Business Growth. Kelly Barner of Buyers Meeting Point dug deeper into the salient points to provide additional context and experience, especially regarding the second “P” in procure-to-pay.
That was followed up with an infographic from Reggie Peterson, Director of Supply Programs at Corcentric. He looks at how procurement is so much more than sourcing and pricing, and lays out the four main processes that every successful Procurement team must follow to be truly effective.
We also posted the 2019 Payables Insight Report from Levvel Research, in which they dig into the state of payables in great detail. No surprise, they also conclude that automation is the difference between successful companies and everyone else, a gap that is guaranteed to widen for the technology laggards.
Our Preparing for Business Growth theme continues next month, so check out these resources you might have missed and prepare for more.
See how process automation accelerates organizational success in November DetermiNews:
Powering finance with automated P2P. Read On >>
Automate payables to drive revenue. Download >>
4 processes to optimize P2P. Download >>
Procurement is raising its game on cloud platforms. Read On >>
Step On It.
Automated payables accelerates success. Read On >>
CFO’s are partnering with procurement. Download >>