eProcurement & Procure-to-Pay Resources

When procurement experts discuss procure-to-pay,  they most often focus on the "pay" portion. The reality is that the number of users impacted during payment is minuscule compared to the number of buyers. Consider a company that has 100 employees. Conservatively, maybe 1 or 2 of them work in accounts payable. However, at that same company, all 100 employees have probably purchased something on...

Comprehensive Digital Knowledge Portal Provides Single Point for Various BuyerQuest Stakeholders to Access Relevant Documentation

(Berea, OH) - BuyerQuest announced today the availability of its recently sponsored research report by Ardent Partners entitled "CPO Rising 2017 - Tools of the Trade" This twelfth annual CPO-themed report, CPO Rising 2017, is part of an ongoing dialogue that Ardent Partners has had with CPOs and other procurement leaders for more than a decade.

In the early days of eProcurement, the only type of catalogs were ‘static catalogs’. With static catalogs, suppliers would send a MS Excel (.xls) or .csv file to their customer. The customer would manipulate, format, and eventually load the static catalog into their respective eProcurement system. At this time, the ERP solutions (and Ariba) were really the only solutions that supported internal...

We live in a time of enormous change for Supply Chains. In the last decade, we have seen massive technology shifts that have disrupted industries and redefined competitive market boundaries. While much of the focus on these shifts has largely centered around the move to cloud and the advancements being made in cognitive computing, there is one massive shift underway across the Supply Chain that,...

If a procurement system has reached the end of it’s time, organizations will see the red flags flying. The solution is stale, inflexible, and impersonal. While many organizations reach this point, they are comfortable with their old system and don’t explore what’s possible with a next-generation solution.

I’d like to think my experiences over the past year-and-a-half diving headlong into the procurement industry has garnered some valuable observations and led to some interesting insights about the technology. I can recall a conversation with a friend working in finance at a major manufacturing company that ended with, “Procurement … you mean those people that tell us they’re going to save millions...

Organizations across all industries, from retail to construction to education, rely on Procure-to-Pay (P2P) solutions to convert negotiated contracts to realized savings. Deploying a new P2P solution is a big undertaking that requires collaboration with many stakeholders from suppliers to business and technical leads. Every detail matters when tracking and managing the deployment of a P2P...

In Part 1 of this series, we explored why companies are gravitating towards dynamic discounting initiatives. In this post, I’ll talk about the key ingredients to a successful dynamic discounting program. Let’s start with the supplier and work our way to the enterprise. 1. Suppliers First, suppliers need to be educated on the options and benefits of taking early payment. Second, suppliers need an...

The Procure-to-Pay (P2P) process starts with the requisitioning of goods and services and ends with processing payments to suppliers. But a fully integrated P2P system is more than that. P2P is  an efficient and effective solution that incorporates touchless automation to reduce errors and improve your company’s bottom line. Not sure what next-generation P2P can do for your business? Below, we’ve...