2023 Procure-to-Pay Software Buyer’s Guide: Select the Right Vendor for Your Organization
Choosing the right procure-to-pay software vendor for your organization can be a daunting task – especially when you consider the significant investment of time, resources, and money.
With so many P2P platforms on the market with seemingly similar offerings, it’s easy to get caught up in basic features and overlook the real value that the best solutions can offer. That’s why it’s essential for organizations to look beyond table stakes functionality and focus on the unique value-add capabilities that truly set the top platforms apart.
By taking a more strategic approach to evaluating P2P software, organizations can find a solution that not only meets their immediate needs but also has the potential to transform their spend management function and drive long-term growth and success. As McKinsey recently reported:
The real opportunity created by back-office digital transformation lies beyond process optimization and improved productivity. Leading P2P solutions enable organizations to collect more data throughout the purchasing cycle, stored in a centralized platform that connects purchasing workflows to financial systems.
The right P2P platform will enable your organization to tap into this unified spend data as a major source of strategic value – to highlight opportunities for optimization, innovation, and growth.