The Path of Procure-to-Pay in 2016: Xavier Olivera Makes his P2P Predictions

P2P outlook Marco2811/Adobe Stock

Procure-to-pay (P2P) technology will continue to advance in 2016, with solution providers expanding platforms and adding capabilities to improve procurement operations, according to Xavier Olivera, Spend Matters analyst and our in-house expert on P2P. Xavier recently shared his specific predictions for P2P in 2016. You can check them out below:

A ‘Broader, More Integrated’ Suite

“In 2016, P2P players will continue to expand their platforms to cover all P2P solutions and offer a broader and more integrated P2P suite, based on acquisitions or partnerships. P2P solutions and suites will also go a step further in the integration with supplier information management and supplier risk management and solutions, either with a partnership or building it into their current platform.”

“The look and feel of P2P technology will also change in the year ahead. We could see some e-procurement and P2P players transforming their user experience, creating a more functional and user-friendly interface.”

More Features, Please

“We also expect to continue to see P2P providers looking for more ways to address complex categories and services within procurement catalogs. This includes new e-collaborative-forms, category templates, etc.”

“Catalogs themselves will continue to evolve or transform, moving more toward granting the ability to ‘buy anything, anywhere,’ while still staying in compliance with contracts, policies, budgets, etc.), such as what Tradeshift is already doing.”

“The use of AI will continue in the new year as well. E-invoicing vendors and P2P suite solutions will continue to find new ways to capture invoices with artificial intelligence capabilities.”

“Global e-invoicing specialists and P2P leaders will continue to tackle compliance with government regulations as more countries continue to make this an obligation for organizations.”

New Areas: Data Analysis, Supply Chain Financing and More

“Procurement metrics will continue to improve throughout 2016. And, hopefully we will see more analysis of user behaviors, such as what BuyerQuest is already doing, as well as some category specific analysis.”

“Invoicing and payment analytics will get more attention in the new year as well, not just to unlock savings or financing opportunities but for the purpose of improving cashflow and working capital.”

“I see more P2P players entering into the supply chain financing space — at least with early payment options.”

“Overall, we will see more P2P suite players entering new industries and markets, competing against Coupa and Ariba.”

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