As the business world gets increasingly competitive, the need for a faster and more efficient Procure-to-pay (P2P) process becomes essential. This helps organisations speed up processes and cut down costs and levels of compliance. Nevertheless, it is one thing to appreciate that P2P tools are necessary; it is another to understand the overwhelming task of choosing the right P2P tool. To assist you in such a task, we have developed an extensive checklist of issues that must be checked before making your final choice.
Usability
P2P solutions must be intuitive. Lack of proper guidance can make users devolve to the common tedious flipping of pages and navigating through complex pages, which lead to users’ resistance to the systems and inefficiency. Search for these features in an enterprise application: simple interface but does not skimp on the training and support of the staff after implementation. It would be worthwhile to initiate a user study and involve a few members of your team before the real purchase to gauge usability.
Procure Tiger provides a complete Procure to Pay solution to help organisations enhance the procurement functions, manage suppliers more efficiently and enable full integration with other tools for less operational costs and better services provided by the organisation.
Scalability
Even as the business expands, there are some needs that a company has to meet in the course of procurement. A P2P solution has to allow scaling up and it should be possible to increase number of users, suppliers, and features without carrying out major modifications. While evaluating the vendor determine if they have supported different organisational sizes and the industry you operate in.
Supplier Management Features
Ensuring good supplier management is critical for successful P2P processes. Seek out solutions that provide functions such as supplier discovery, registration, evaluations, and communications. A well-designed supplier management module facilitates the onboarding process but also supports supplier relations and ensures quality service delivery on time.
Cost Structure
The budget viability of the P2P solution can only be fully comprehended when the cost structure is explained. Identify whether the pricing is a monthly subscription, pay-per-usage, or a one-off license fee. Include costs such as training, support, and upgrades in the pricing. Benchmark costs with other vendors to ensure that you have made a good investment.
Reporting and Analytics
Procurement strategies couched in data will always succeed. The P2P solution should include high-flying reporting and analytical capabilities. Inquire into what functionality the user has to generate internal reports on spending levels, supplier performance, and procurement efficiency. This information can help strategize and, therefore, enhance performance.
Conclusion
Various aspects are to be keenly assessed before deciding on which Procure to Pay solution is suitable for the company. With this checklist, it is possible to use a step-by-step approach to assessing the alternatives available for the organisation in order to settle on an appropriate solution to the organisation’s strategy. Through careful thought and consideration of all the checkpoints, you are bound to achieve a better, easier, and more cost-efficient procurement process. Don’t wait any longer; let’s get started and give your organisation a P2P solution to facilitate effectiveness!
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