With so much internal focus in the supply chain on the order-to-cash (O2C) activities and customer experience, procure-to-pay (P2P) processes and supplier satisfaction can often be overlooked in the drive for continuous improvement, the streamlining of processes and digitisation of supply chain data.
Automation, already widely used in many operational processes such as order processing, is less developed in many companies’ procurement activities. How much time are your staff spending in this area on administrative activities, filling in reporting templates, or repeating other manual tasks? How much of that data is in a digital format? Standardised and structured processes within any area of the supply chain are ripe for digitisation, as are the supporting business documents.
Optimising these processes can bring a re-focus of your resources on the value-added activities, and in procurement for example, could allow your buyers more time to spend on the right things, to work more closely with suppliers, and not be bogged down in paperwork.
Digitisation of data, combined with a cognitive business monitoring tool for example, can lead to the access of real time performance information of those suppliers, to ensure they are meeting service targets and enable you to react and report on potential issues in the supply chain. If your challenge is in the efficiency of invoice reconciliation, or complaint handling, similar benefits can apply and will transform the end-to-end procurement process.