Are Your Accounts Payable and Procurement Functions Out of Sync?
The Procure-to-Pay (P2P) process starts with a customer’s identification of a purchasing need and ends with a supplier getting paid. Upstream P2P (sourcing and purchasing) and downstream P2P (accounts payable) are two sides of the same process, yet in many large companies, different organizations manage this process. Over time, this leads to disconnects at key integration points.
Many organizations have experienced significant challenges when establishing an integrated P2P model—different business drivers among key stakeholders, different reporting structures and operational mindsets, and a lack of internal customer adoption. Yet despite these challenges, an integrated P2P process is a worthwhile endeavor.
ScottMadden’s approach consists of a Maturity Model that is intended to provide a complete view of overall performance. It generates a strong foundation for you and your executive team to track P2P effectiveness and improvements in efficiency. By evaluating the entire P2P process, savings opportunities can be identified, as well as areas to improve.
ScottMadden has improved and integrated P2P for many organizations, giving us the experience you need to gain leadership buy-in, build trust, and create organizational change.
For an assessment to discover where your company stands today, and what steps would move it to the next stage of the maturity scale, contact us.