We establish the parameters of the project and begin gathering data to validate. Our talented engineers are experts in source-to-pay analytics, and we can host centers of excellence to realize the full potential of your data. We have the advisors, supplier management procedures, products, and catalogs for guided buying that mitigate procurement risks. Our extensive network of partners ensures our solutions can adapt to your structures and systems. Our artificial intelligence (AI)-powered business platform Genpact Cora, enhanced by procurement platforms such as Coupa or Ariba, is the basis for the technology we use. When we've completed this research, we take a holistic approach, conducting process mining, deploying digital tools, implementing workflows, and applying analytics to ensure you get the best return on investment (ROI) in the purchasing and payment function. We believe the best way to derive full value from integrating P2P starts with a deep dive into your present-state procurement and accounts payable (AP) methodology. Solution Lay expert groundwork for a best-in-class P2P system For this to happen, you need a system that is transparent, predictable, supported by experts, and rich in data to make informed, accurate decisions. What's more, there's no room for contracts that aren't standardized for mismatched documents, for too many one-off-vendors, or for overly long procedures to onboard new ones.Ī seamless – and completely touchless – procure-to-pay (P2P) structure will solve these challenges and build resilience against future economic uncertainty. You have to make sure that buyers use catalogs to adhere to company purchasing policies and get the best deals possible. You don't have leeway for duplicate work that limits productivity. You can't afford to lose an early-payment discount, endure a credit hold, or frustrate suppliers with slow responses to their invoice questions. Now is the time to address flaws in the way your business buys and pays for goods and services. Weaknesses in these areas can badly damage your competitive edge. Challenge Revamp procurement to build future resilienceĬash flow, cost-saving measures, and superior user experiences have always been a focus for successful companies, but COVID-19 has made these fundamentals a matter of survival.
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