Amidst ongoing economic uncertainty, optimizing procure-to-pay (P2P) operations has become a pivotal means for achieving significant organizational cost reductions and heightened operational control.

An increased focus has also been placed on supplier risk and impact, including cybersecurity, carbon footprint, diversity, equity and inclusion, geopolitical factors, and other environmental, social, and governance considerations.

Prioritizing efficiency and effectiveness throughout the entire P2P lifecycle is imperative in navigating the challenges presented by the ongoing economic uncertainty, heightened interest rates and purchase price variability. A thoughtful evaluation process is a vital step to determining the best path to value across the end-to-end procurement lifecycle. Many companies are looking to redesign their processes, including revisiting their planning, sourcing, receiving, accounts payable and supplier relationship management, to address governance concerns and reduce costs.

A holistic approach to strategic P2P excellence will result in increased process automation, integration and real-time reporting to harness data and develop insights for more informed, forward-thinking analysis.

In this whitepaper, we will:

• Outline key P2P leading practice activities.
• Identify key levers to analyze end-to-end P2P processes.
• Detail strategies and enablers for P2P process optimization.
• Highlight AI and robotic process automation considerations across P2P operations.
• Provide case study examples of P2P initiatives.