Seeking An Efficient And Effective Enterprise Procurement Management Solution?
ENTERPRISE PROCUREMENT MANAGEMENT
As the economy shifts towards more digital space, the complexities of enterprise procurement management have grown considerably in recent years. This, in turn, has created need among companies to find source-to-pay system (S2P) that can safely and effectively manage their purchasing process. source-to-pay system enables companies to optimise their procurement of goods and services and collaborate more efficiently across their organisation.
For the C-Suite leadership at an enterprise, investing in an efficient and reliable S2P system can save time, money and resources, help identify and reduce spend, eliminate errors, maximise compliance, and better manage risk. To gain maximum value from any S2P system in their organisation, Executives must know how to properly deploy the solution.
To aid Executives, this guide will offer an overview of how to use an enterprise-wide solution for procurement management, from planning successful deployment to training users and assessing performance.
Planning Successful Deployment
Before any S2P system can be put in place, it is essential that company has identified their business requirements and projected savings. With this information, they can select suitable vendor. Companies need to ensure that they get the right solution for their needs and the right vendor to support them in each step of the process.
Once suitable system has been selected, the process of implementation must begin. This involves configuring the system and integrating it with existing ERP and other key software, ensuring the system is secure, mapping data and conducting usability tests.
Training End Users
After successful implementation of the S2P system, it is necessary to ensure all users are trained properly in its use. This may require users to take courses, such as those specific to the software in question, and receive hands-on guidance to become proficient in the solution.
The process of training end users may take up to month for those users with no prior experience in the system. During this period, companies should monitor user progress regularly to ensure successful transition to the S2P system.
Establishing Policies and Procedures
Having trained the end users, companies must also ensure they are up-to-date with the S2P system’s policies and procedures. This includes understanding organisation-wide approved supplier list, purchase order authorisation procedures, supported payment terms and payment methods and so forth.
The policies and procedures should be well documented, including instructions and contact list which end users can easily refer to in the event they have any questions.
Monitoring Performance
Finally, to ensure the success of their S2P solution, companies must regularly monitor and assess the performance of the system. This involves monitoring supplier performance metrics, such as satisfaction levels and timeframe of delivery, as well as examining how well the system is adhered to by end users in terms of compliance to policies and procedures.
In addition, companies must look to identify areas for further cost savings, by analysing current purchasing patterns and supply resources.
Conclusion
A source-to-pay solution can give companies much-needed visibility and transparency into their procurement process. To ensure successful implementation and use of their new S2P system, companies must plan out the deployment carefully, train end users, establish policies and procedures and monitor performance. With all these steps in place, companies can be sure to optimise their procurement process and eventually, maximise cost savings.
