The P2P Category

Best Practices for Your P2P Implementation Project And How to Keep it From Becoming a Nightmare [Plus+]

complex sourcing

Editor's note: This is a refresh of our 2015 series on running a successful P2P implementation, which originally ran on Spend Matters PRO. Read Part 1 here.

In the Spend Matters webinar “Nightmare on Procurement Street,” we discuss how to successfully implement a procure-to-pay solution (P2P) and avoid the process from turning into a terrible experience. This 2-part Spend Matters Plus series lays out what tips we suggested for procurement organizations embarking on a P2P project. This is not meant to be an all-inclusive, step-by-step implementation guide, however. We simply want to share our best practice ideas based on our experience and our discussion in the webinar. Today, we will focus specifically on project management as a procurement responsibility, as well as ensuring finance and accounts payable (A/P) are included in the P2P implementation project. Other areas we will cover are remembering the importance of supplier integration, system testing and user training in the P2P process.

Certify, a T&E Veteran, Launches a Procure-to-Pay Solution

Known for its travel-and-expense software solution, Certify on Thursday announced that it is launching a procure-to-pay product. The new cloud-based P2P product is called Certify Purchasing and is billed as a way to automate key accounts payable tasks like requisitions and vendor payments. The SaaS-offering works with desktop and mobile devices, Certify said. CEO Robert Neveu said the move builds on the company’s travel-and-expense experience.

Artificial Intelligence in Sourcing Tomorrow (Part 1) [PRO]

In Spend Matters' last PRO article, Artificial Intelligence in Sourcing Today (The Situation Now), we overviewed some scenarios where you can find AI in e-sourcing platforms today, where we define AI as “assisted intelligence” because, as we've stated in this series about AI in modern sourcing and procurement technologies, there is no true artificial intelligence in any enterprise technology today. In fact, there is nothing close, at least not on the open market.

But we will be closer to artificial intelligence tomorrow, and in the near future, we may get to the point where the average market leading platform offers you augmented intelligence on a daily basis.

In our last article, we reviewed the common instances of the assisted intelligence technologies on the market today, namely: auto-fill, workflow automation, outlier identification and rule-based auto-award identification.

However, this is just the beginning of what you should have as a sourcing professional, especially considering what's coming in AI Tomorrow. For example, if you go back to our series in AI in Procurement Tomorrow, you know that soon you will have technologies to prevent overspend, buy on your behalf invisibly, buy automatically, identify opportunities while you sleep, identify new categories before you know of their existence and identify procurement methodologies for success.

But these improvements will spill over into the sourcing domain as well. In Tomorrowland, as a buyer, you will also have augmented intelligence technologies that will allow for:

* Event-Based Category Alignment — not just new category detection * Market-based Sourcing Strategy Identification — not just the right methodology for procurement * Automatic Strategic Sourcing Events — not just auto-buy from a catalog or contract * Suggested Award Scenarios — not just canned options

And it will make your buying life much more efficient. But how?

BirchStreet Systems: Vendor Snapshot (Part 3) — Summary and Competitive Analysis [PRO]

The hotel, hospitality, restaurant, casino and food manufacturing industries have a range of specialized procurement technology requirements, especially in the procure-to-pay area. But what are these, and more important, how does the market leader in the sector, BirchStreet Systems, stack up to alternatives in the market?

Part 1 of Spend Matters PRO Vendor Snapshot provided a company and detailed solution overview, as well as a recommend fit list of criteria for firms considering BirchStreet. Part 2 focused on its strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether they should consider the vendor.

In our third and final installment, we provide a SWOT overview of BirchStreet as a whole, a comparative and competitive market overview, and provide some final summary analysis and recommendations for organizations that might consider BirchStreet as a potential solution partner.

BirchStreet Systems: Vendor Snapshot (Part 2) — Product Strengths and Weaknesses [PRO]

This Spend Matters PRO Vendor Snapshot explores BirchStreet Systems' strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether they should consider the vendor. Part 1 of our analysis provided a company and detailed solution overview, as well as a recommend fit list of criteria for firms considering BirchStreet. The third part of this series will offer a SWOT analysis, user selection guide, competitive alternatives, and additional evaluation and selection considerations.

BirchStreet Systems: Vendor Snapshot (Part 1) — Background and Solution Overview [PRO]

services sector

While BirchStreet Systems, a 16-year-old provider of purchase-to-pay solutions, is best known as a provider with deep expertise in the hospitality industry, followers of Spend Matters SolutionMap know the company offers more than just vertical-specific functionality. In fact, based on its performance in the Q4 2018 E-Procurement and Procure-to-Pay SolutionMaps, BirchStreet consistently holds its own, from a feature/function perspective, with other solutions taking a more horizontal approach, including SAP AribaCoupaDetermineGEP, Ivalua, Jaggaer, SynerTrade and Zycus.

This Spend Matters PRO Vendor Snapshot provides an overview of the BirchStreet Systems, along with facts and expert analysis to help buying organizations evaluate the vendor. Part 1 of our analysis provides a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations might want to consider BirchStreet. The rest of this multipart research brief will cover product strengths and weaknesses, competitors and SWOT analysis, user selection guides, insider evaluation and selection considerations.

How to Keep Your P2P Implementation Project From Turning Into a Nightmare (Part 1) [Plus+]

Editor's note: This is a refresh of our 2015 series on running a successful P2P implementation, which originally ran on Spend Matters PRO.

In the webinar “Nightmare on Procurement Street,” we discussed best practices surrounding a procure-to-pay (P2P) implementation project. Webinar speakers were myself, Spend Matters Chief Research Officer Pierre Mitchell, GEP Worldwide Senior Manager Santosh Reddy and Senior Manager of Technology Product Marketing Paul Blake. This first of a multi-part Spend Matters PRO research brief will examine how to avoid a P2P implementation project from turning into your worst nightmare. While not an all-inclusive implementation guide, the brief points to some important steps that are necessary to conducting a successful P2P implementation.

Top P2P Articles of 2018: Technological Leapfrogs, Market Forecasts and New Frontiers

The procure-to-pay area may seem straightforward. Procurement primers on the subject often segment the P2P process into seven or nine steps, making its components easy to grasp even for the uninitiated. Yet go one layer deeper and numerous complexities emerge — to be followed by still more as one peels the process architecture and technology onion. (Consider, for example, our multiple stories on the intricacies of catalog management.)

This cascading complexity is one reason that P2P-related topics — like e-procurement, invoicing and payments — are consistently some of the most-read articles on Spend Matters. To see why, here are the top five posts that readers sliced, diced and consumed.

Efficio Panel Debate: Good Banter, Robot Jokes and 3 Points About the Future of Procurement

Last week in London I participated in one of the livelier and more spirited panel debates on the future of procurement (skills, technology and more) in recent memory. The event, held at Efficio’s offices Thursday to mark the release of its latest report, “Procurement 2025: Is Digital Transformation Driving More Effective Procurement,” included not only a handful of esteemed panelists and facilitators from the procurement/CPO, consulting and academic ranks, but also a robot — which led to many robotic process automation jokes throughout the discourse. If Efficio does something like this again, ask them for an invitation — you won’t be disappointed!

Here are three points that stuck in my mind from the different panel discussions and chats that I had.

How the Contagion Effect Could Blow Up Network Finance

In the real world, you plan for an event and it works out for a while. Then things fall apart. So you react and plan more — hoping to stop the problem from creating a contagion effect.

And here you are, thinking that you built this nice network finance model to finance your suppliers not just on approved invoices, but invoices that have been issued, or even more upstream, purchase orders that have been issued. And things have been working smoothly for a couple of quarters, or maybe for even a year or two.

But then it happens. More things fall apart.

SolutionMap: 58 Procurement Software Companies Ranked (Q4 2018 Update)

Spend Matters today released its Q4 2018 SolutionMap, ranking 58 procurement software companies across 12 solution categories, including E-Procurement, Sourcing, Spend Analytics, Supplier Relationship Management and Contract Lifecycle Management — and we're adding Coupa, Wax Digital and other new providers to the SolutionMap ranks. Click on this article to see how to access rankings for free!

Q4 2018 Procure-to-Pay (P2P): Provider Scoring Summary

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The Spend Matters SolutionMap Procure-to-Pay (P2P): Provider Scoring Summary is only available to SolutionMap Members. This SolutionMap analyzes a select group of procure-to-pay solution providers. It is part of our Q4 2018 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management, e-procurement and invoice-to-pay providers.