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A Corcentric Company.
April 9, 2019

Source-to-Pay Platforms: Avoiding the Pitfalls of Point Solutions and Frankensteins

Source-to-Pay Platforms: Avoiding the Pitfalls of Point Solutions and Frankensteins

Determine OutLoud: A conversation with Sophie Pope, Director of Customer Success at Determine

In a recent webinar, Sophie Pope and Ollie Young, a Senior Solutions Engineer at Determine, addressed The 5 Ways a S2P Platform Helps Create More Value for Your Organization. They discussed the differences between source-to-pay point solutions, platforms, and what they called ‘Frankenstein’ platforms. Yikes!

 

A true source-to-pay platform holds natural advantages in its ability to centralize data, increase transparency, and maximize spend control – but what about usability? No procurement organization wants to spend their hard-earned influence capital on winning over users to a slow, non-intuitive solution. Or worse yet, have to pick up a ‘stick’ once the ‘carrot’ fails to lure users in.

Procurement has been a technology-driven function for a long time, and yet we continue to struggle with which system to implement and how to ensure maximum adoption – both inside and outside of the organization. Since no function can succeed in isolation, focusing on compliance as a measure of technology suitability rather than good buyer behavior will both increase adoption and improve procurement’s internal relationships.

Keeping an eye on the big picture, procurement should always concentrate technology investments around solutions that will serve them well over the long term and allow for the maturation and expansion of procurement value.

In this discussion, Sophie will answer questions such as:

  • Wha is a Frankenstein platform?
  • When does it make sense to implement a point solution v. a full source-to-pay platform?
  • How should procurement approach compliance if user satisfaction is a priority?
  • What can we learn from source-to-pay implementations that will help us as we look towards emerging technologies such as AI and machine learning?

Thanks for listening in.

S2P Platform Webinar

Determine OutLoud is our podcast series that minds your business in source-to-pay and contract management. If you’d like to be a guest on Determine OutLoud, would like to suggest someone or have an idea for a topic, we’d love to hear from you.

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