Just What is an End-to-End Platform for Source to Pay?
Part 1 of this 3-part series explained how the rise of the platform is procurement’s future. In Part 2 you’ll learn how and why platforms overcome suites’ deficiencies.
Procurement is constantly evolving; so are its needs. Best-of-breed platforms are those that help power that evolution with efficiency, effectiveness and value. Procurement technology suites solved many of the problems with standalone modules in terms of data management nightmares, process inefficiency and visibility gaps. But many mature organizations have found that it takes a procurement platform to connect into larger enterprise processes and support the stakeholder organizations that procurement needs to work with, including unique supplier processes.
This is where platforms come into play, specifically source-to-pay (S2P) platforms. But what is a platform in this context? Obviously it’s more than just an integrated suite, but how much more? To answer that, we have to define where an average procurement technology suite begins to break down for a best-in-class procurement organization.
In this whitepaper from Spend Matters, you’ll learn what it will take to leverage a procurement platform, including:
- The elements of a platform
- Customizable workflow
- Appropriate features and functions
- Internal and external integration
Download this white paper to learn how platforms are powering the future of procurement.