Good Practices in Procure to Pay Digital Transformation
Procure to Pay processes hold the potential to restrict and tie-down businesses instead of acting as the wind beneath their wings. While these processes can be leveraged to interact and innovate with suppliers, the associated complexities can drive suppliers away and have a negative effect on the bottom line.
New and Emerging Technologies in the Source to Pay process
According to a report, 56% of Source to Pay tasks are fully or largely automatable. This highlights a great opportunity, as more and more companies are rigorously inspecting the core processes that run their business, seeking areas to add efficiency in the Source to pay process.
Key Lessons from Oil India’s Successful P2P Digital Transformation Journey
Oil India, the premier Indian National Oil Company under the Ministry of Petroleum and Natural Gas, the Government of India recently went live with its automation project for Supplier Collaboration and Accounts Payable Invoice Automation.
Fireside Chat with Sudhir Banerjee, ABB
Our founder director, Srividya Kannan, speaks to Sudhir Banerjee, Head of Global Business Services, ABB. They discuss the future trends for shared services, landscape of talent demand, governance mechanism in multi-function shared services and next generation shared services leaders.
Business Process Automation to Drive Operating Costs Reduction
Business Process Automation can transform enterprises by streamlining, reducing redundancy and improving communications across functions like Finance & Accounting, Procure to Pay, Order to Cash, Human Resources among others.
Order to Cash Digital Transformation
Order-to-cash automation has indeed enabled enterprises to reduce costs, increase efficiency, and provide visibility into transactions. Post-COVID, the focus areas for enterprises would be to build more robust cash flow forecasting, better supplier communications, efficient inventory management, and better governance.
Good Practices on RPA Success & Scaling
Robotic Process Automation can transform enterprises by streamlining, reducing redundancy, and improving communications across functions like Finance & Accounting, Procure to Pay, Order to Cash, Human Resources among others.
Source to Pay Automation – Priority & Trends
The pandemic has been a wake-up call for enterprises and traditional operating models are no longer viable. Source to Pay leaders are ensuring that processes are digitalized to a large extent, while they spend more time to build stronger supplier relationships, broad base suppliers to meet sudden demand spikes, reduce risks due to factors such […]
Reduce AP Process Costs & Increase Process Agility with OpenText VIM
For most enterprises, invoice processing requires too much manual effort leading to high processing costs, slow invoice approval times, and frequently delayed payments create an unsustainable level of risk within your supplier relationships.
Good Practices on RPA Success & Scaling
As the enterprise transforms digitally, Source to Pay organizations find themselves in the middle of their own transformation. While top-performing companies are embracing emerging technologies and driving strategic value, many groups still struggle with end-to-end automation across the supplier and user base.