2017 Best Practice Predictions: Disrupting E-Procurement and Invoice-to-Pay with Technology

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If you’re a Spend Matters reader, how often over the past decade or more have you read about one corner or another of “Excel Hell”?

I can’t take credit for the term — that goes to my esteemed colleague Michael Lamoureux — but I can certainly sympathize with the hours, days and months spent within the classic Microsoft application for any number of supply management needs. Indeed, Spend Matters reader or not, you wouldn’t have to read about Excel Hell to experience the frustration and despair that could come packaged with over-reliance on the tool.

Ultimately, much like “real hell,” being eternally damned to Excel may feel like being trapped in an interminable realm.

While the wonders of Excel have ceased to be "disruptive" countless years ago (if they ever really were), procurement must begin focusing on the next generation of truly disruptive tech that is making waves in our working lives.

How Important is Technology to Procurement? 

In a word: quite.

And it’s not as if there aren’t enough to keep tabs on, running the gamut from cloud, B2B connectivity, user-designed solutions, platform-as-a-service (PaaS), networked connectivity, mobility, analytics and artificial intelligence/machine learning — many of which are already influencing today’s cutting-edge offerings.

As Spend Matters’ Xavier Olivera and Jason Busch write in a brand-new report:

“Procurement has no choice but to become more technologically savvy in understanding and appreciating the underlying technologies impacting both their world and that of the business.”

This report, "E-Procurement and Invoice-to-Pay Disruption: 'Best' and 'Next' Technologies," shares summary insights into the technology, product and functional levels of “best” practices today and tomorrow’s “next” practices for procure-to-pay (P2P) solutions.

A key point for understanding the practices that are “best” now and those on deck “next,” however, is to realize that they are not “one size fits all” for procurement organizations. Indeed, the era of mass customization is fully underway, and to that end, the Spend Matters analyst team has outlined six buying personas that help procurement organizations research and select technology solutions more effectively.

3 Key Themes for E-Procurement and I2P Best and Next Technologies

In this report, you’ll find the current “best” practices and tomorrow’s “next” practices broken out into three themes:

  • Shopping/Buying Enablement
  • P2P Process Management
  • Supplier Connectivity

Benchmark what types of tech practices your organization is employing now — and what types it should be tomorrow. Claim your free report copy here.

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