While Procure-to-Pay (P2P) automation technology has been around for almost two decades now, very few standard approaches, processes and/or clear best-in-class performance benchmarks have emerged. Zycus recently conducted a P2P benchmark study where-in 450+ procurement organizations participated. The study focused on the key performance indicators impacting next generation P2P efficiency. The results of the benchmarking report paint a comprehensive picture of the current P2P landscape, including over a dozen Key Performance Indicators (KPIs) for indirect spending, P2P process accuracy, governance and controls, speed and cost efficiency as well as enterprise adoption, use and ratings for P2P technology.
Topics in this session included:
- How enterprise procurement organizations create actionable visibility around indirect spending
- The progress organizations made in placing indirect spend categories under management
- How benchmarking participants identify and contract with preferred vendors
Categories: 2015 Spring - Amelia Island, Summit Presentations
SRC Type: Benchmarking and Analysis, Category Management, Procurement Operations, Sourcing Management