The Hackett Group will discuss an approach and related best practices around optimizing the Purchase-to-Pay transactional strategy. Hackett data suggests that most companies have significantly too many ways in which goods and services are bought and paid for and that there is little strategic thought put into the processes that are used relative to the risk profile of a particular product or service. Ultimately this leads to increased risk to the business in many instances and inefficiencies and cycle time delays in others. In fact, Hackett data suggests that for a typical $5 billion in revenue company these inefficiencies are over $4 million of process cost.
The additional impact of risk on the business while harder to quantify in its entirety is a minimum 14 times the opportunity related to process efficiency. Join this session to understand how top Performing companies optimize their Purchase-to-Pay channel strategy and resulting benefits. The session will include Hackett’s latest Purchase-to-Pay metrics as we quantify the business case for change and share best practices for delivering on the opportunity.