IOFM Series: Mitigating the Risk of Procure-to-Pay Improvement—Part 1

Phase #1: Know What and How You Execute P2P

Step One: Define the Problem

Improving procure-to-pay (P2P) isn’t just about squeezing out costs or freeing up time. Poorly run processes can damage your relationship with your end customers and drive away your best employees.

Case in point: At a mid-sized IT services company, the combination of multiple legacy billing systems and no centralized master data system meant that when a customer returned an item, it would take, on average, more than 5…