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There is no doubt, the full value of a Purchase-to-Pay (P2P) transformation project is much more than just transaction efficiency. Sourcing through improvements in spend aggregation and focused category management can unlock significant value.
However, Procurement spend a lot of time negotiating and relationship building (and they’re proud of the savings they have achieved), only for savings to be lost as staff circumvent processes and buy “off-contract”.
In this webinar, we will detail how you can align procurement, finance and the rest of the organisation in P2P: turn sourcing events into an awarded contract and catalogue that can be purchased against, and also track spend against your contracts – in other words, ensuring visibility of current compliance and a method for measuring improvements.
In addition, how to manage contracts in one place which also automatically notifies your team when a contractual renewal is due. This ensures you have sufficient time to review existing terms, evaluate supplier performance and pricing and prepare for further negotiations.
Having a solid and well-implemented Purchase-to-Pay system, fully integrated with contract management is essential to ensure the savings promised by procurement are fully ‘captured’ by the rest of the organisation.