Read Watch

Toning up P2P - What we Heard on Day One

{{article.creator.firstname}} {{article.creator.lastname}}
Editor Coda
Jul 23, 2013

To sum up the discussions that took place at Toning Up Purchase to Pay to Attain Touchless Processing in London yesterday, here are our top take aways:

  1. If you want to drive change in P2P, don't think you can do it alone - finance and procurement need to work together

  2. Establish process owners who are not involved in ops but are there to govern

  3. No point having a global process if nobody complies with it

  4. Reference P2P in shareholder presentation reports

  5. A global process owner that reports into the CEO

  6. Look at when you pay invoices - don't pay early

  7. Metrics drive behaviour, which drives improvement. Use league tables - they work!

  8. If you need evidence for the past horror do an audit

  9. There is a €900m opportunity to save costs in indirect spend among the companies that participated in the American Express study

  10. Automation alone won't work: standardise, align and optimise your processes

  11. There isn't a single technology silver bullet - you need a basket of approaches

There's a lot more to come today as we have Surrey County Council, Rolls-Royce, Finnair and Pearson speaking. And that's all before lunch!

To read this article you have to be registered.

Become a member to access all content and / or download it