One key question and concern that our clients have is regarding cost savings. Embarking on a digital procurement implementation project is an important step towards better saving opportunities, improved efficiency and better control over spend. In order to take advantage of the full spectrum of benefits that come with a new Source to Pay system, organisations need to make sure they get the implementation process right.
It’s not just about the digital procurement implementation. After successfully implementing a Source to Pay system your organisation needs to make sure that the system is fully adopted and optimised.
Steps for a successful digital procurement implementation project
- Take time to really understand your needs and make sure you have a solid business case
- Choose the right implementation partner for your organisation
- Have an ongoing engagement and communication with the stakeholder
- Have a SaaS mentality during the digital implementation project
- Continuous improvements and performance management
- Ensure you are updating efficiently and properly for a better ROI
When starting a digital procurement implementation project the focus should be on the challenges you are trying to address and the benefits you are trying to achieve. Involving the stakeholders from the beginning and having their support in the digital transformation you are about to enter is key.
An important part of selecting a solution is to frame your procurement vision and purpose for your project. This ‘Source to pay Blueprint’ will provide a framework of requirements to build a specific and complete RFP for your solution. It will help your organisation to develop your technological procurement process, including the criteria by which you assess responses to your RFP. The main objective is to select a solution that will meet your needs, without adding unnecessary complexity.
One key mistake that organisation make when implementing a procurement solution is that they view it as a system implementation rather than a change program.
Improving procurement processes with new technology should not be a very hard thing to manage. Automation is key and can help your organisation in the long run. Process automation is critical in order to achieve digital success in procurement.
The success of a digital procurement implementation project depends on having a clear picture of the outcome your organisation wants to achieve. A Target Operation Model (TOM) should reflect the culture of the organisation and help guide all the challenges you might have during the implementation project.
Integration between your ERP and your selected S2P tool is also very important. By having template configurations for your procurement tools in the form of blueprints, pre-built with the financial and organisational data models for your ERP, your organisation can save time and money by reducing integration effort.
We believe an integrated Source to Pay system helps companies become more powerful with their procurement processes. But you have to keep in mind that change doesn’t happen overnight, and hardly any implementation project goes without facing a few challenges, but by having the right implementation team by your side during all the stages of the project you can make sure that everything runs smoothly.
If you are interested in knowing more about Source to Pay systems, please don’t hesitate to contact one of our procurement specialists!