I am seeing a lot of companies that are trying to overcome their internal challenges by looking at a software solution. In some instances, they see procure to pay as the panacea for all of their challenges.
In the right circumstances, a sound procure-to-pay platform can help address operational deficiencies.
Here are 8 mistakes to avoid and the biggest one involves data.
One that got missed is failing to determine the total cost of ownership. Yes, you are allowing your end user to buy directly. Freeing up your staff’s time. Yet after purchasing and implementing the solution, can you determine/calculate your transactional cost?
Might I suggest one thing that I would consider? I would do a full spend review. Consolidate high-volume items and then determine if an existing or at least 3 suppliers have the e-commerce capability that would or could meet your needs. Lot less expensive and troublesome than going the full procure-to-pay route.
Need help doing the analysis? Then feel free to message me and I will see how I can help. firstname.lastname@example.org