Implementing a Source to Pay solution is a major step towards better spend management. It can help your organisation to capture savings, improve efficiency and gain control. The strongest organisations keep project momentum going from the very start of the implementation journey straight through to completion. These are the businesses that really deliver against the e-procurement business case.
What goes on after go-live?
Once you have made a significant investment in a Source to Pay (S2P) system, it is important to check after go-live that you are getting the best return on your investment. Implementing a new system doesn’t automatically change behaviors, and technology on its own won’t transform your procurement processes. So, unless you take the time to examine what is actually happening with your spend, you may be missing opportunities to realise your original business case benefits.
Having an occasional health check for your systems gives you an opportunity to evaluate your Source to Pay solution and progress to more in depth analysis and planning.
Are you getting the most from your procurement investment?
As an organisation you need to ensure you are getting the most out of your source to pay solution investment. Sometimes progress can be slow or even blocked, either through the mechanics not being right or through less focus on the right user adoption and behaviours.
Benefits of optimising your Source to Pay solution
Let’s have a look at the main benefits which you can realise when optimising your S2P platform:
- Supplier Master Data – increasing efficiency in document handling and control about how and when your suppliers are in line with your control processes.
- Supplier Enablement – Constant reviewing master data quality, capabilities to handle e-invoicing and supplier managed catalogues. Identifying more productive ways of doing business.
- Transaction Spend Analysis – Constant reviewing on transaction document values and volumes to promote driving compliance through approval, expanded spend management information and efficient P2P processes
- Compliance – Identifying areas to be more in line with the business processes
- Approval Analysis – Review of your source to pay approval process to ensure most efficient practices are being used to eliminate over administration.
- Contract Analysis – Review of contract behaviours and identify opportunities for associated repeatable spend from suppliers
- Sourcing Analysis – Review of sourcing activities and leverage savings through simple RFX processes
- Governance & Control – Consideration is given to how the source to pay solution environments are governed, how documentation and issues are handled internally and externally with the source to pay solution.
- Unutilised Functionalities – New releases can provide the opportunity to simply or expand your solution.
Having a standardised optimisation report, which highlights areas that can be improved upon, ensures your business function obtains maximum value from the Source to Pay solution you have spent time and resources implementing.
This article will be shortly followed by a 2nd part where we explain hands on situations where improving your Source to Pay solution has made a big impact!
Useful links:
XoomTune – Spend management optimisation
Implementing a Source to Pay solution is a major step towards better spend management. It can help your organisation to capture savings, improve efficiency and gain control. The strongest organisations keep project momentum going from the very start of the implementation journey straight through to completion. These are the businesses that really deliver against the e-procurement business case.
What goes on after go-live?
Once you have made a significant investment in a Source to Pay (S2P) system, it is important to check after go-live that you are getting the best return on your investment. Implementing a new system doesn’t automatically change behaviors, and technology on its own won’t transform your procurement processes. So, unless you take the time to examine what is actually happening with your spend, you may be missing opportunities to realise your original business case benefits.
Having an occasional health check for your systems gives you an opportunity to evaluate your Source to Pay solution and progress to more in depth analysis and planning.
Are you getting the most from your procurement investment?
As an organisation you need to ensure you are getting the most out of your source to pay solution investment. Sometimes progress can be slow or even blocked, either through the mechanics not being right or through less focus on the right user adoption and behaviours.
Benefits of optimising your Source to Pay solution
Let’s have a look at the main benefits which you can realise when optimising your S2P platform:
Having a standardised optimisation report, which highlights areas that can be improved upon, ensures your business function obtains maximum value from the Source to Pay solution you have spent time and resources implementing.
This article will be shortly followed by a 2nd part where we explain hands on situations where improving your Source to Pay solution has made a big impact!
Useful links:
XoomTune – Spend management optimisation