For procurement executives engaged in driving optimization through automation, it is important to recognize that Procure-to-Pay (P2P) tools do not provide a one-size-fits-all solution that they are hoping for. On average, more than 50% of the enterprise procurement budget is spent on services which need to be actively managed during the in-life phase. In some cases, considerably more. In addition, the majority of the spend is typically with a small percentage of large contracts. With P2P tools offering limited in-life management functionality, there is distinct need to consider combining P2P deployment with a specialized supplier governance tool. But which of the two should be deployed first? This paper helps answer this important question.

Contributors: SirionLabs
Categories: SIG U Resource, Whitepaper
SRC Type: Disruptive Digitization, Procurement Operations