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Currently Browsing Tag: Procure-to-Pay

Successful Digital Transformation Guidelines in New Levvel Research Report

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Successful Digital Transformation – In its 2019 Guide to Procure-to-Pay & Digital Transformation Report, Levvel Research examines the current state of adoption as well as the key technologies and the emerging technologies that will benefit organizations’ digital transformation initiatives. What is digital transformation? According to Levvel, the three key elements include: Digitizing analogue processes to create a new, enhanced method or experience Automating processes in the back office to reduce costs across departments Changing or creating new business models While each of these initiatives may be pursued independently, they can drive more additive business benefit when pursued collectively. Procurement and … Continue reading

Procure to Pay Increases Demands on Financial and Accounting Teams

Category: Blog   |   Tags: ,

The procure-to-pay process includes all activities related to procurement through financial settlement of goods and services with suppliers. Procure to pay offers a number of benefits – among these are improved supplier collaboration, lower costs and improved compliance. For most companies, the pain point is that the infrastructure is just not there to support the desired levels of speed and responsiveness, and the effect is increased demands on both financial and accounting teams. In their report “Procure to Pay: Building a System of Synergies,” Aberdeen Group focuses on the intersection of the procure-to-pay process and business processes and how these … Continue reading