It’s time to think differently about procurement. Some senior finance executives already are.

They’re putting real effort into integrating accounts payable and procurement activities in order to extract value from procure-to-pay processes and reliably capture more savings, gain visibility into spending, reduce risk, and improve working-capital performance.

They’re looking into recent advances in technology and automation, including:
- business networks and their capacity for enabling buyer-supplier collaboration
- source-able information, its breadth, depth, form, variety, and usefulness, and how it can improve the timeliness, accuracy, and accessibility of procurement-related information
- social media as a means to facilitate collaboration and information-sharing within companies

And the benefits they’re achieving include catalogue control, contract compliance, working capital improvements, discount capture, and process cost containment.

The bottom line: You can boost your bottom line by integrating P2P processes and bringing them together on a single technology platform. Download CFO’s executive summary to learn more.