Addressing S2P (Source-to-Pay) is necessary for organisations today in order to reduce transaction costs, but that alone is not enough to drive real cost reduction and bottom line profitability. To derive the maximum benefit, organisations need to seize the opportunity created by the disruption of a S2P implementation to radically transform the way in which procurement is carried out throughout the organisation. This paper provides suggestions on how to make the most of the opportunity created by S2P implementation and makes recommendations on how to maximise the benefits,
According to the Hackett Group, vendor fees are the #1 obstacle to enabling e-Invoicing. We agree. That's why Coupa doesn't charge your suppliers any fees. In this presentation, we discuss just how Coupa is helping customers be successful with supplier enablement.
Order to Cash. Cash is King. Prime elements, points that block successful ETE flow. KPI's/metics and how to guage where your company really ranks: a Business leader, Average, or Laggard.
According to the Hackett Group, vendor fees are the #1 obstacle to enabling e-Invoicing. We agree. That's why Coupa doesn't charge your suppliers any fees. In this presentation, we discuss just how Coupa is helping customers be successful with supplier enablement.
Order to Cash. Cash is King. Prime elements, points that block successful ETE flow. KPI's/metics and how to guage where your company really ranks: a Business leader, Average, or Laggard.
3 Way Match for Purchasing ProfessionalsBill Kohnen
Matching in the Purchasing process attempts to confirm that only legitimate payments are made to suppliers.The most common matching process is a 3 way match of: purchase order, goods receipt and supplier invoice. A good 3 way match process should drive efficiency and not require constant management oversight.
Establishing integrated end-to-end processes is a top priority for many companies. However, most have disconnected sourcing, purchasing, and accounts payable processes. This creates challenges such as decreased efficiency and reduced stakeholder satisfaction.
This report explores how building a procure-to-pay process with a well-defined strategy and governance can provide your company with the foundation to realize significant benefits such as reduced staffing levels, improved liquidity, and increased savings. To learn more about how to adopt leading procure-to-pay practices, contact us at info@scottmadden.com.
Establishing integrated end-to-end processes is a top priority for many companies. However, most have disconnected sourcing, purchasing, and accounts payable processes. This creates challenges such as decreased efficiency and reduced stakeholder satisfaction.
Building a procure-to-pay process with a well-defined strategy and governance can provide your company with the foundation to realize significant benefits such as reduced staffing levels, improved liquidity, and increased savings. To learn more about how to adopt leading procure-to-pay practices, please visit www.scottmadden.com or contact us at info@scottmadden.com.
- Why benchmark - and why can it be useful?
- What can we benchmark against, and who can help with the process?
- Benchmarking processes and techniques
- Pros and cons of different benchmarking options
- A suggested model for benchmarking the procurement function
- Developing improvement plans
SharePoint Configuration Management – Effective Techniques for Regulated Shar...Montrium
This presentation will include:
• Recap of Validating SharePoint for Regulated Environments
• SharePoint within the GxP context
• Regulatory Requirements
• Industry Standards
• Corporate Standards
• What is Configuration Management?
• Implementation of formal system specific configuration control procedures
• Configuration deployment and version control techniques
• Integration with the validation and change control process
• Importance of leveraging a risk based approach to QC
• Using SharePoint to manage configuration control
Enjoy
If you have any questions please email info@montrium.com
3 Way Match for Purchasing ProfessionalsBill Kohnen
Matching in the Purchasing process attempts to confirm that only legitimate payments are made to suppliers.The most common matching process is a 3 way match of: purchase order, goods receipt and supplier invoice. A good 3 way match process should drive efficiency and not require constant management oversight.
Establishing integrated end-to-end processes is a top priority for many companies. However, most have disconnected sourcing, purchasing, and accounts payable processes. This creates challenges such as decreased efficiency and reduced stakeholder satisfaction.
This report explores how building a procure-to-pay process with a well-defined strategy and governance can provide your company with the foundation to realize significant benefits such as reduced staffing levels, improved liquidity, and increased savings. To learn more about how to adopt leading procure-to-pay practices, contact us at info@scottmadden.com.
Establishing integrated end-to-end processes is a top priority for many companies. However, most have disconnected sourcing, purchasing, and accounts payable processes. This creates challenges such as decreased efficiency and reduced stakeholder satisfaction.
Building a procure-to-pay process with a well-defined strategy and governance can provide your company with the foundation to realize significant benefits such as reduced staffing levels, improved liquidity, and increased savings. To learn more about how to adopt leading procure-to-pay practices, please visit www.scottmadden.com or contact us at info@scottmadden.com.
- Why benchmark - and why can it be useful?
- What can we benchmark against, and who can help with the process?
- Benchmarking processes and techniques
- Pros and cons of different benchmarking options
- A suggested model for benchmarking the procurement function
- Developing improvement plans
SharePoint Configuration Management – Effective Techniques for Regulated Shar...Montrium
This presentation will include:
• Recap of Validating SharePoint for Regulated Environments
• SharePoint within the GxP context
• Regulatory Requirements
• Industry Standards
• Corporate Standards
• What is Configuration Management?
• Implementation of formal system specific configuration control procedures
• Configuration deployment and version control techniques
• Integration with the validation and change control process
• Importance of leveraging a risk based approach to QC
• Using SharePoint to manage configuration control
Enjoy
If you have any questions please email info@montrium.com
This paper provides lessons on how leaders can enable procurement change within their organization. It identifies seven key obstacles that tend to arise within the firm, and provides suggestions and examples on how these can be tackled.
The proposed wave approach makes use of a simple supplier profiling method that forms the basis of the entire supplier engagement strategy. Its effectiveness stems from the fact that it avoids the use of complicated data that is difficult to obtain and is often unreliable.
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Icalled on my pre-law experience as a music agent and manager in this sector of the music business to provide a customized presentation to many of the same folks I used to work with on a regular basis.
Although we have come a long way on some of these issues--the rise of the now ubiquitous iPhone and its use to video performances could have scarcely been imagined 7 years ago, but other slides are still as relevant as they were when first presented.
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Procurement fraud, bribery, and corruption have moved beyond a perceived risk and become a real issue for many organizations. This paper highlights the need for organizations to put the necessary processes in place to protect against procurement fraud. It also serves as a warning that the absence of any visible instances of bribery, fraud, and corruption should be no cause for complacency as instances of successful perpetration may remain hidden for long periods of time.
This paper provides lessons on how leaders can enable procurement change within their organization. It identifies seven key obstacles that tend to arise within the firm, and provides suggestions and examples on how these can be tackled.
Procurement challenges may seem daunting, but there is hope. Here we have discussed ten common procurement challenges for businesses & tips for overcoming them.
Procurement management is one of the most time consuming, costly and manual tasks in typical businesses. With no unified system, time-consuming processes usually lead to costly mistakes, lots of lost opportunities and significant inefficiencies which are detrimental for any company. Which is why organisations are beginning to develop well-defined strategies to handle the demands of procure-to-pay processes. Let us show you how to gain full control over your procurement operations with our automated, lean but smart procure-to-pay solution.
CashPerform has a unique offering that facilitates efficiency in the cash conversion cycle to recover cash from suppliers, customers and internal efficiences. This translates into Working Capital Optimisation
Most sourcing organizations focus on direct procurement, potentially overlooking indirect procurement and missing key opportunities to reduce spend. As indirect purchases increasingly become a larger percentage of overall spend, for many organizations, indirect procurement can be a diamond in the rough. This article makes the arguement that the value of indirect procurement should not be overlooked.
How to keep pace with changing technology and increase speed-to-value. In order to keep pace in a constantly evolving marketplace, organizations need a new model for sourcin IT services. Sourcing has become one of the most critical functions of the IT organization.
Penny wise procurement strategies-long-term-effectiveness-short-term-wins 1012-1Dr Gordon Murray
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at the cost of ‘long-term sustainability’. The premise is that there is a need to avoid short-term procurement strategies during financial crises, which could compromise long-term success. The paper’s central theme is built around the popular management model Porter’s 5 Forces, and we correlate the theories in this model to the real world challenges of procurement and how they can provide a long-term cost efficient solution.
This white paper sets out how digital technology can deliver improved procurement performance. Cloud, Mobile, Social and Big Data are discussed and suggestions are made on how they can deliver reduced costs, faster access to procurement platform solutions, accelerated access to information, flexibility in working, increased innovation and creativity, and improved procurement intelligence. To gain those benefits, it is argued, a Digital Procurement Strategy is needed. The paper closes with recommendations for harnessing digital within the procurement context.
The current business environment necessitates exploring every possible avenue in the pursuit of cost reductions. Procurement provides one such opportunity and is now recognized as a key strategy to achieve cost reductions that are sustainable in the longer term and do not need headcount reductions. This paper focuses on low value spend, ‘The Tail’. It articulates the benefits of targeting low value spend and defines ‘The Tail’. It finally presents a prioritised strategy for Chasing the Tail.
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RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
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Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
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[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
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1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
S2 p strategic opportunity-s2p-implementation-0113-1
1. Don’t miss The Strategic
Opportunity of S2P
implementation
Addressing S2P (Source-to-Pay) is necessary for organizations
today in order to reduce transaction costs, but that alone is
not enough to drive real cost reductions and bottom line
profitability. To derive the maximum benefit, organizations
need to seize the opportunity created by the disruption of a
S2P implementation to radically transform the way in which
procurement is carried out throughout the organization.
This paper provides suggestions on how to make the most of
the opportunity created by a S2P implementation and makes
recommendations on how to maximize the benefits.
White Paper
2. About the Author
Dr Gordon Murray
Dr Gordon Murray is a strategic procurement specialist within the
Global Consultancy Practice of Tata Consultancy Services. He holds an
MSc with Distinction in Purchasing & Supply Management, and a PhD
in strategic procurement improvement, and is a Corporate Member of
the Chartered Institute of Purchasing & Supply.
2
3. 3
Table of Contents
1. Introduction 4
2. The typical approach to S2P implementation 4
3. S2P information needs 5
4. The missed opportunity 6
5. Conclusions 7
6. Recommendations 8
4. 4
Introduction
The typical approach to S2P implementation
Reducing transaction costs, improving efficiency, getting the best deal, having greater spend visibility, and
ensuring greater contract compliance are among the common business case justifications for a new Procurement
Platform Solution. In fact, they are among the reasons why businesses have engaged with us for the delivery of that
solution – clients gain the benefit of lessons learnt from previous implementations. So why would we suggest that
there may be a missed opportunity in S2P implementation? Put simply, while a S2P system is fundamental in every
organization’s pursuit of reducing transaction costs, it is not enough to drive real cost reductions and bottom line
profitability. To maximize the benefits, organizations need to use the disruption of a S2P implementation to
radically transform the way in which procurement is carried out throughout the organization, with procurement, in
this case, referring to the manner in which all non-pay spend is carried out.
That the S2P implementation will be disruptive is certain; however, that disruption provides a wonderful, one-off
opportunity to roll out wider procurement transformation. What’s more, we honestly believe that S2P
implementation without wider procurement transformation is likely to prove costly in the long run.
Let’s look at a typical example. An organization has realized that the Accounts Payable process is largely
administrative and has many standardized processes. A business case is developed, recognizing that the
automation of the process will reduce errors, speed it up and reduce transaction costs by a figure between 20% and
30%. Besides, these are savings that have been achieved time and time again. It is compelling. It is attractive. It is a
‘must do’. We do not advocate‘ripping up’this business case. Instead, we make a case for taking a wider perspective,
recognizing that S2P can be an enabler for making a stepped change and for introducing best practice
procurement throughout the organization. This elevates it from being a mere operational issue; on the contrary, it
becomes a strategic opportunity.
However, before we discuss that, let’s consider the traditional view of S2P implementation. The traditional view is
that S2P is the automation of an administrative process. This is correct. It will lead to transaction cost reductions.
But automating an existing process implies that all the required information needs will be available. In Figure 1, we
highlight some of the information needs that a S2P system will require.
Figure 1: S2P information needs
Requisition
n Policy
n Strategy
n Procedures
Purchase Order
n Contracts Register
n Catalogue
n Marketplaces
n Approved
list/Preferred
suppliers
n Delisting plans
n Vendor rating
Delivery
n Contract
management
n Vendor Rating
l Price performance
(incl. terms)
l Time performance
l Quality
performance
l Location
performance
Accounts Payable
n Spend analysis
n Contract T&Cs
n Contract compliance
n Contracts Register
5. 5
S2P information needs
A S2P system requires access to information to work effectively. This section discusses the information needs
relevant to the purchasing process.
Requisitioning
The first stage of the purchasing process is the raising of the requisition electronically. The person raising the
requisition needs to be aware of the purchasing procedures and monetary thresholds within which they have
authority. The Procurement Policy also needs to be relevant since it will address wider issues applicable to all
spending, and will take into account what the organization stands for and its rules on behaviour. Finally, the
requisitioner needs to be conscious of the organization’s Procurement Strategy; for example, whether or not their
requisitioning should keep in mind organizational practices pertaining to Corporate Social Responsibility (CSR),
Vendor Rationalization, lowest price etc.
Purchase Order
Of course, the person approving the requisition and its conversion into an electronic Purchase Order also needs to
be aware of the policy, strategy and procedures, but the decision to award the Purchase Order to a particular
supplier becomes a major concern. The existing catalogue will provide details of what is currently‘on contract’–
information that flows from the Contracts Register. The Contracts Register will also provide access to the Terms
and Conditions applicable; for example, when should delivery be expected, what is the contract duration, what
are the renewal dates and so on.
On occasions when an existing contract is not in place, the Policy and Procedures will provide information on how
to issue a Request for Price, how many offers should be invited, etc. The Approved List/Preferred Supplier
database will also shape decisions regarding invitations to submit bids, the organization’s plans for delisting and
vendor rating. Failure to take these into consideration is a major reason why organizations issue RFPs to current
suppliers who are providing unacceptable service or to those who are scheduled for delisting.
Delivery
Ideally, delivery should be as close as possible to the point of use and ideally, the requisitioner. They need to be
able to confirm that the delivery is consistent with the‘5 Rights’, namely, right price, right place, right quality, right
time and the right supplier. The requisitioner also needs to be able to follow up with the vendor/supplier when
delivery is not as expected. To complete these operational activities, they need access to the relevant contract
information. The actual supplier performance then needs to be fed into the vendor rating system.
Accounts Payable
Finally, assuming that the Purchase Order has been‘signed-off’as received to an acceptable quality, the Invoice is
then matched with the Purchase Order, electronic Delivery Note, agreed price, any settlement discounts, etc. The
Terms and Conditions of the contract as well as the Contracts Register need to be accessible.
The financial coding system and the creditors' payments then provide the key input into the spend analysis,
which is at the crux of strategic procurement decision-making.
6. The missed opportunity
More often than not, S2P implementation is driven by a motivation to streamline and automate the Accounts
Payable function, with transaction cost reduction in the Purchasing and Accounts Payable administration being
the focus. However, we believe that while the administrative costs need be reduced, much more could be
achieved, and potentially longer-term costs avoided, if a more strategic perspective were taken. Unfortunately,
the involvement of certain strategic procurement units is not always recognized as being fundamental to the
success of a S2P implementation and as a result, their inputs are not sought. This is potentially a serious mistake
and Procurement needs to ensure that this opportunity is utilized for procurement improvement.
Our starting position is that the focus should not just be on automating the existing process – the‘as is’. Instead
the disruption should be used as a procurement transformation opportunity.
It is an opportunity to:
revisit policy, strategy, procedures, and structure;
introduce best practice strategic procurement;
demonstrate to the market that you should be treated as a preferred customer; and
convince the market to make the necessary financial investments.
Automating existing processes may sound sensible, but it is far better to take a long-term perspective.
Implementing a new IT system and then having to change it again in the short to medium-term is expensive –
while staff and suppliers can understand managed change, their patience will quickly be exhausted if you
subsequently want to make changes that, in their view, could have been predicted.
So, it is prudent to clearly define the manner in which procurement would be carried out in the future and
design the implementation to reflect the future‘to be’state. This will require agreement on future Procurement
Strategy. The Procurement Strategy will need to clearly include whether you intend to increase or reduce your
vendor base.
Your S2P system will not work in isolation of supplier engagement. However, for suppliers to invest in the ability to
communicate with your S2P system, a reassurance that they will remain your supplier for some time, will be required.
Equally, if suppliers are to be the main provider of catalogue content, they need to be aware of its‘template’needs.
So, introduce your new vendor base approach along with your S2P implementation instead of afterwards.
But determining which suppliers need to be on-boarded to the S2P system as a result of existing contractual
commitments necessitates a single, well-maintained Contracts Register. We have already discussed the need for
a S2P interface with a Contracts Register – a good question to ask is“Do we have a single Contracts Register?”
If not, now is the time to consolidate and standardize the register, take control of its management and also link it
with the vendor base strategy.
You also need to think about the corporate approach to structure. Should you be moving to a centralized,
decentralized, or hybrid structure? If the S2P implementation does not reflect the new structure, you will incur
greater cost and disruption later when you need to make the shift. It is, therefore, much better and more cost-
effective to design a new structure and implement the S2P to embed the new structure.
n
n
n
n
6
7. As the new S2P system is a change management opportunity, this is the time to take the lead on vendor rating
and on the strategic ownership of the supply base. This is also the time to revise Procurement Policy and
Procedures. It is also the ideal opportunity to introduce a new common procurement vocabulary that will ensure
that coding is consistent and that a comprehensive Spend Analysis is completed. Being equipped with Spend Data
– perhaps for the first time – is also the right time to introduce Category Management approaches and reap real
cash savings. These strategic initiatives all need to be introduced within a new Procurement Strategy but equally,
they need to be reflected in the S2P implementation.
S2P is just one procurement application – the Procurement Strategy should set out all other applications that will
be rolled out and when, and those responsible for designing the S2P need to know which linkages to be factored
in and when.
The new S2P implementation will require training – both for use and associated workflows. That training should
not be delivered in isolation; instead it should be part of communicating the new strategy and perceived best
practice. That training also needs to reflect new roles, remits, responsibilities and relationships.
S2P implementation, therefore, needs to be seen as a strategic procurement opportunity to introduce more
effective approaches as opposed to making existing processes more efficient.
The decision to introduce a S2P system is generally led by those responsible for the Accounts Payable function. It is
concerned with the business case of reducing administrative transaction costs. However, S2P needs to be recognized
as a strategic procurement opportunity – an opportunity for procurement transformation in strategy, structure,
systems, and skills. This also provides scope for introducing best practice strategic procurement techniques.
We urge those considering the implementation of a new S2P system to take a wider and more strategic
perspective. With this in mind, the next section sets out our recommendations.
1. View S2P as an opportunity to strategically transform how procurement is carried out throughout the
organization;
2. Consolidate contracts into a single Contracts Register and confirm who owns the supply base;
3. Refresh the existing Procurement Strategy, prior to setting about S2P implementation – design the
implementation to embed and reflect the new strategy;
4. In determining the new Procurement Strategy, be clear about your approach towards the future market – there
are clear benefits to be had from addressing vendor rationalisation in parallel with S2P implementation;
5. Do not implement a S2P without first challenging the existing structure. Ensure the implementation reflects
your desired future organizational structure for procuring, then clarify the ownership of new roles, remits,
responsibilities and relationships;
6. Make sure procedures reflect a new way of doing business, not just in terms of how the S2P process will
operate, but in terms of the most effective approach;
Conclusions
Recommendations
7
8. 7. S2P just one part of an eProcurement Strategy portfolio – be clear about which other applications will be used
by procurement and ensure that the S2P system design reflects the integrated whole;
8. Staff will need to be trained in the new S2P operating system. Ensure that training goes beyond the operation
of the S2P system and includes raising awareness of and gaining commitment to the new policy, strategy,
practices and procedures;
9. S2P should be viewed as a change management initiative. Support it with a communications strategy and
clear leadership from the organization’s leadership;
10. Don’t miss the strategic opportunity of S2P implementation.
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Figure 2: Grasping the strategic procurement opportunity.
Current
Systems
Current
Structure
Current
Strategy
Future State
Strategy
Structure
Systems
Skills
S2P AS A CHANGE TOOL
Strategy
Structure
Systems
Skills
Strategic
Procurement
Applications
Portfolio
Turnaround
Factory Support
Procurement
Management
Information
Spend analysis