Procure-to-Pay Whitepaper

Optimizing procure-to-pay operations is crucial for minimizing costs and enhancing operational oversight. In our whitepaper, “Strategic Excellence in Procure-to-Pay: Navigating Economic Uncertainty in 2024,” MorganFranklin Consulting’s business transformation experts highlight impactful optimization activities, strategies and five key levers to analyze end-to-end procure-to-pay processes.  We cover the following essential topics:

• Leading Practices in P2P: Explore key activities and strategies for optimizing your P2P processes.
• Leveraging Technology: Discover how AI and robotic process automation can revolutionize your P2P operations.
• Case Studies: Gain insights from real-world examples of successful P2P initiatives

Key Topics Covered

Strategic Sourcing and Contract Management

• Conduct due diligence and benchmarking for optimal supplier partnerships.
• Develop governance procedures for contract negotiation and management.

Managing Suppliers and Requisitions

• Utilize central P2P systems for efficient supplier management.
• Implement automated requisition processes to streamline operations.

Process Automation and Payment Optimization

• Explore automation opportunities to reduce manual efforts and improve accuracy.
• Implement real-time payment tracking and reporting for enhanced control.

Achieve Substantial Advantages

By evaluating, restructuring and implementing P2P activities, organizations can achieve significant advantages, including:

• Reducing close cycle time
• Saving costs from organization redesign
• Optimizing processes through automation

Our whitepaper concludes with insights on paving the path forward in strategic optimization for procure-to-pay activities.  Download our whitepaper now to gain valuable insights and strategies for success.