Procure-to-Pay: Optimise your processes, make them more adaptable
Summary
The changes faced by CFOs are constant whether they are new regulations, acquisitions, mergers, reorganisations, ERP changes… In this context, having an adaptable Procure-to-Pay process in real time is essential to guarantee operational business continuity, in all circumstances, including during such unpredictable events as the health crisis that is disrupting all interactions and operating methods. Treating the Procure-to-Pay process as an application, running “outside” of the ERP, is generally seen as a strong measure of agility. In fact, the adaptability and management are two sides of the same coin: Validating the implementation of a reorganisation – or deciding to adjust it – involves a performance analysis in real time. And most CFOs understood it well: in 2020 in a context of constant adaptation due to the health crisis, 2 out of 3 financial decision-makers made monitoring their number one priority. 67% of CFOs say that the search for agility in financial management was their priority in 2020 Option Finance CFO Digital barometer 2021 As long as a few good practices are followed, the implementation of the digitalisation of the Procure-to-Pay process is a unique opportunity to make your organisation more adaptable and resilient.
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