Blog Pick of the Week: Top Tips from Procure to Pay Leaders
I was on a Procure-to-Pay project years ago and we spent so much time learning the existing process. I wanted to get on with the project. It took me a while to understand that that was part of the project. A significant part.
We all know that learning from others is a good thing. Saves time and money and repeating others' mistakes. When I saw this blog, it offered some insight from those who have successfully implemented a Procure to Pay solution.
This blog by Shared Services Link is from a conference that had 70 organizations discussing how they did just that. Here are two that were mentioned:
1. Map out your current process. (Hah - we got that one right despite my impatience to get on with it!)
2. Don't underestimate the amount of work that goes into understanding and document the current state. (We spent a lot of time on this and we did underestimate it - so did not get this one right).
The blog includes a 4 minute video on the blog that various attendees at the conference give various perspectives on their procurement to pay projects.
For full disclosure, we did NOT implement a P2P solution first. We focused on the strategic sourcing process and tools first.
Did you implement a P2P solution? What were your learnings? Do you have more to add to the list?