What’s it all about?
Procure-to-Pay, Purchase-to-Pay, P2P, eProcurement — whatever name you want to give it — is a series of coordinated and integrated activities designed to fulfill the requirement of getting the right goods or services, in an efficient manner at the right price, at right time. You got this, right?
The Determine P2P Starter Kit, Part Two: Taking the mystery out of cloud procure-to-pay.
I recently completed a thorough study of myths by examining one of the most scientifically significant examples available — Scooby-Doo and the gang: Fred, Daphne, Velma, and Shaggy. You may laugh, but studying the adventures of Mystery, Inc. sheds a great deal of light on all kinds of myths, cloud procure-to-pay (P2P) included .
Introducing the Determine P2P Starter Kit, Part One: The P2P 101 Guide
It is amazing what procurement professionals can accomplish with nothing more than spreadsheets, email and a phone. We can source, manage suppliers, track spend and report savings. In fact, we are so resourceful and so good at cobbling together solutions that we often stay with that approach longer than we should – especially considering how much is at stake for the company and its customers. The challenge for procurement is knowing when the time is right to make the switch to a procure-to-pay (P2P) platform .
The definition of spend management seems to be fairly obvious ⎼ it’s the management of enterprise spend, right? On the contrary, the practice of spend management involves more than just the simple tracking and monitoring of how much money is going out of an organization. Much more.
Exploring procurement’s continuing evolution.
In this series of posts, we have looked at how procurement can have a greater impact on enterprise risk by starting our work sooner, keeping it top of mind throughout the whole contract lifecycle, and considering each category of spend from inside and out. It’s critical to embrace procurement’s impact on risk mitigation by focusing on risk earlier in the process, and by staying proactively informed throughout the term of the contract.
Two organizations leveraging technology in pursuit of agility.
In Part One of this two-part blog series, Determine Chief Product Officer Julien Nadaud laid out the fundamental thinking and strategy behind what it takes to move toward a more agile procurement framework and operations. Part Two below delves into some of the specifics that two Determine customers used to streamline, modernize and “agilify” their organizations. As Ardent Partners points out, agile is the future of procurement success — here are some examples of how that looks.
Making the move from concept to reality.
In this two-part blog series, Determine Chief Product Officer Julien Nadaud explores what it takes to strengthen your procurement strategies and make them easier with just one word: agile. Part One looks at the groundwork required to rebuild your present agile procurement strategies, and in Part Two he’ll summarize two case studies surrounding specific examples of agility in action. The idea of “agility” is getting a lot of play in the procurement world these days, but it is real, achievable and what success will increasingly look like .