2016 P2P for Indirect Spend Report by PayStream Advisors
Successful P2P Automation Begins with an Adoption Strategy
Many industries, including education, healthcare, and manufacturing, are trapped in manual processes when it comes to P2P. Specifically, 66% of organizations surveyed by PayStream Advisors for this report do not automate procurement. As a result, they experience high labor and processing costs, lost and missing invoices, slow approval cycles, lousy visibility across the transaction life cycle, little control over indirect spend, delayed payments, and multiple other negative effects.
The challenges that these organizations confront are especially apparent in the indirect spend arena. But once they implement a P2P automation solution, they get greater control over indirect spend through:
- Supplier Management
- Supplier dispute and query response times
- On-time payments
- Full visibility into supplier data
- Competitive Pricing, Contract Compliance, and Budgeting
- Process Synchronization
- Payment Control and Efficiency
This report from PayStream Advisors describes the benefits of a P2P automation solution, and provides an adoption road map. Download today!