Chief product officers and chief financial officers are looking beyond cost to ensure that they are getting value for their spend. To achieve this, they are going beyond short-term savings and contemplating the company’s long-term ability to make informed financial decisions during times of uncertainty.
The benefits of implementing a long-term spend management strategy are clear when you consider that companies with strong procure-to-pay (P2P) alignment pay $2.54 to $3.57 to processes an invoice while organizations that lag in alignment pay close to $5 to process an invoice
To be successful in this long-term spend management strategy, this white paper from Corcentric argues that financial leaders need to work together to unlock the hidden value in P2P processes. Relying on a remote, digital-centric approach can help ensure companies that business goals are aligned across the organization, business continuity is maintained and that the ongoing demands of stakeholders are met while effectively managing suppliers and third parties.
Download this white paper to uncover:
- The true importance of P2P in the value chain.
- How a digital-centric approach to P2P improves performance and business continuity.
- The primary challenges practitioners face when managing P2P.