IOFM Series: Mitigating the Risk of Procure-to-Pay Improvement—Part 3

Phase #3: Are You Ready to Automate?

Step 5 — Considerations Before Investing in New Technology

One of the most common, and expensive, mistakes made when trying to improve procure-to-pay is investing in a technology solution too early.

It’s easy to fall into the trap: You identify an inefficiency in how the work gets done and think there’s got to be a better way. And in that mindset you’re susceptible to believing that a technology investment can be the silver bullet — the easy fi…