As we’ve discussed procure-to-pay (P2P) ROI in previous blogs, the aspect of compliance – both internally and with suppliers – will greatly benefit your business, along with operational process improvements. Automating P2P provides clients with the tools to improve operational compliance, at the location level, as well as to corporate standard operating processes (SOPs).
The following grid represents the broad spectrum of these opportunities.
BirchStreet’s platform has the capability to increase efficiency, provide controls and compliance. All of these combined benefits contribute to overall business process improvements (BPI). Trends show that many of the larger enterprise companies are moving to procure-to-pay solutions, but there is a huge opportunity for mid to large sized companies to bridge the gap they face with new technology.
For more information on eProcurement and industry trends, click here to see PayStream Advisors’ research and report on “Electronic Procurement: Creating Buyer/Supplier Collaboration Through Procure-to-Pay Solutions.”