Purchase-to-pay (P2P) technology is not new. But many mid-market firms – defined here as those with a turnover of around £200 million to £1 billion annually (say, $300 million to $1.5 billion) - still have not taken the plunge into investing in such systems. In this briefing paper, we look at why that is, and discuss the reasons why the time is now right for such organisations to look seriously at the "new wave" of P2P technology options. The paper is presented as a series of questions drawn from discussions with firms that are considering this sort of investment, and from our own experience of the technology and as procurement practitioners.
The overall conclusion is that P2P can address direct cost savings, help create a better control environment, and help deliver wider value for the organisation from its third-party spend. And that is true for mid-market firms as well as the giants. In fact, developments such as the "software-as-a-service" approach to delivering technology have made this much more practical and cost-effective for all but the very smallest firms.