Verian Content

Aligning Accounts Payable and Purchasing

Spend Matters welcomes this guest post from Hadi Chemaly, a senior product manager at Verian. Every business strives for a perfect world where accounts payable (AP) and purchasing work in perfect harmony, overcoming different policies and processes. Like most worthy goals, reaching this perfect world is easier said than done. It is common to have AP and purchasing report up to different division managers. These divisions often have different philosophies in handling supplier relationships as well. This creates friction and tension between the two teams, and in extreme situations, results in unhealthy organizational rivalries.

User Adoption: Increasing the ROI from Your P2P System

Businesses investing in Purchase-to-Pay (P2P) systems want increased efficiency in their procurement operations. But a system alone does not create efficiency. To reap the benefits of accurately tracking budgets, streamlining approval processes, and controlling spend, focus must be centered on user adoption from the start. Purchase-to-Pay software is designed to make purchasing easier for the entire organization, while providing visibility, control, and compliance. The most significant driver of ROI is getting the most spend under management across the organization. To do that, everyone must use the system. Here are 10 steps to increase user adoption.

Spend Matters 50/50: Verian – A Provider to Watch

As we continue on with our coverage of the providers in the Spend Matters 50/50 list, we come to Verian, a provider that has largely flown under the radar of the procurement technology scene, at least in terms of marketing. However, it has supported some of the more complicated configurations we’ve seen for P2P outside of Ariba or ERP deployments costing 10X or even more in systems integrator costs (inclusive of e-invoicing, eProcurement, inventory and asset management – not to mention other areas). But Verian also supports the basics and can go head-to-head with some of the bigger name P2P providers.

The Secret Formula for Achieving Maximum Savings

What's the ultimate objective of P2P automation? While greater efficiency, better visibility, and more control are all natural results of automating key P2P processes, the real pay-off is capturing more savings. More savings means better cash flow and higher profits, and that's what every organization wants. So it stands to reason that the ultimate objective of P2P automation is using the automated system to capture the most savings possible. Most organizations that embark on the P2P automation journey understand this objective, but many still fall well short of reaching their savings goals. This is because it takes much more than just understanding it to make it happen. Achieving maximum savings from P2P automation requires the application of a secret formula known by only the most financially savvy organizations.

Successful System Implementation Means Better Not Just Faster

Too often speed is the most valued aspect of a P2P system rollout. However, best-in-class P2P providers balance rapid implementation with effective strategy and high quality execution to expedite quick gains in efficiency and compliance. Understanding what makes the implementation process better is the only way to pick a P2P provider.

Ease of Use Means More than an Attractive User Interface

Ask any sponsoring executive to name the leading criteria for selecting a purchase-to-pay software solution, and ease of use will be at the top of the list. However, very few decision makers have a firm grasp on what ease of use really means. Many organizations get distracted by solutions that have attractive user interfaces but do not drill down deep enough to ensure that there’s rich functionality to deliver true long-term value.

Automation Holds Answers for Better Supplier Contract Management

Most organizations spend a lot of time negotiating terms with their suppliers. Unfortunately, many lack the internal controls to ensure that their hard-fought supplier contracts are used well. The resulting off-contract spending and poor negotiating leverage rob companies of millions in profit every year. In response to these expensive challenges, many organizations are turning to automation, which offers viable solutions to control off-contract spending and improve contract leverage and negotiation.

Change Management – Overcoming the Three Biggest Challenges

If not taken seriously, managing change can become a significant obstacle to successfully implementing purchase-to-pay (P2P) automation technology. Even though P2P automation promises to relieve the sizeable burdens caused by paper or other poorly performing systems, people can be stubborn and resistant to change. This resistance can hamper an automation project or even derail a system implementation entirely. The three biggest change management challenges are adoption, alignment, and compliance. And here’s some valuable insight on how to deal with and overcome these challenges.

Picking a Purchasing System that Pleases Multiple Stakeholders

Purchasing system stakeholders can include executives, purchasing managers, AP managers, information technology (IT), requisitioners, and approvers. It’s hard to pick a purchasing system that pleases multiple stakeholders. That’s why it’s absolutely critical to gain insight from the stakeholders’ point of view during the evaluation process. What do all these different stakeholders really want from a purchasing system? Here’s some helpful perspective.

Using Advanced Budget Tracking to Connect the Dots on Spending

There’s no debating the fact that best-in-class P2P automation solutions can provide businesses of all sizes with greater efficiency, visibility, control, and savings. So why do some organizations, even after automating processes for purchasing, invoice processing, and expense reporting, still encounter problems like budget overruns and vague P&L numbers? Most of the time, it’s because there’s a critical element missing that can help connect the dots.

Five Ways to Drive User Acceptance of a P2P System

There is no substitute for hands-on training and testing. These are two of the most critical elements for ultimate user acceptance. Best-in-class training programs include not only power users, but as many other users as possible. If this is not feasible, there should be a plan and a schedule for how power users will train other users. User acceptance testing (UAT) normally follows hands-on training. It should involve putting power users through real world business scenarios that help build excitement about using the new system.

6 Ways Supplier Networks Simplify Supplier Relationship Management

Supplier networks can be a very effective solution for companies looking to ease the burden of SRM and make relationships with their suppliers more successful. Verian presents six ways that supplier networks can be used in order to streamline supplier management.