Introduction

P2P as a driver of digital transformation

Financial decision-makers are at a crossroads in business processes: a place that is enabling them to be the spearhead of digital transformation projects. Among these projects, digitization of the Procure-to-Pay process is a priority.

Because it constitutes the most important and immediate foundation of performance and productivity, the supplier invoicing process - one that is still often manual, complex, time-consuming and a source of costs and disputes - is generally the first natural step in the P2P digital transformation journey.

Once it has been set up, P2P automation - a process that is visible to all departments - becomes an outstanding showcase for the digital transformation of the entire organisation and gives the Finance and Administration Division a role as leader in the field.

digitalization procure-to-pay

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HOW TO SUCCESSFULLY AUTOMATE YOUR AP PROCESS? INSIGHTS FROM 1000+ PROJECTS

55%

consider that the Finance and Administration Division will lead the way in digital transformation

PWC Study 2020 – Priority of the Finance Manager

60%

of finance departments believe that automation is one of their main priorities

PWC Study 2020 – Priority of the Finance Manager

KPI

Procure-to-Pay automation: how to maximise the benefits?

Digitizing the Procure-to-Pay process offer a number of benefits: productivity, auditability, traceability, risk management, resilience, real time control… Furthermore, the savings on costs and supplier invoice processing times can be considerable as confirmed by numerous studies on the subject:

  • Cost of processing an invoice:
    €19 in manual processing; up to less than €3 for automated processing
  • Processing times;
    More than 15 days in manual: up to less than 3 days if automated

These performances are some of the best. Organisations that get the maximum benefits from P2P digitization have told us about various good practices:

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PilierP2P

Best Practices

How to successfully implement your P2P digitalization project?

How can you make your P2P digitization project a success and guarantee achievement of the targets set? Making digitization a success is first and foremost a case of choosing the right solution. Several criteria are to be taken into account:

  • Simplicity: Is the solution pre-configured and ready-to-use? Is it easy for the business lines to adopt it?
  • Performance : Does the publisher have a commitment to a minimum automation rate?
  • Security:  Are the fraud detection functions (fake invoices, fake suppliers…) systematic, before payment of invoices and is the data embedded in the solution?
  • Comprehensiveness: Does the solution offer more than just AP automation?
    What about digitalization of procurement to optimise checking?
    And supplier relations management to streamline exchanges and increase compliance? Or business management for analysing and optimising processes?

Once the solution has been chosen, making its implementation a success involves the application of good change management practices: defining clear objectives, obtaining support from the management, involving all participants.

Be careful with the traditional methods (V-cycle), which have demonstrated their limits and do not make the most of the cloud: difficulty in developing, tunnel effect, gap between what is expected and what is achieved…

Today, agile and practical methodologies such as Quickstart from ITESOFT capitalizing on over 1000 digital transformation projects offer fast start-up in production to allow business lines to become familiar with the solution in real situations, and then develop it along the way according to their real needs. As a bonus: improved adoption by users, ROI from the start of the project and a faster and more controlled rollout.

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