The Elephant in The Room
December 17, 2019
On the road to procurement transformation, many clients spend significant time, effort and attention on how they will restructure policies and processes for managing spend. And they are correct to do so – “there’s gold in them thar hills!” Clients are finding great benefit from these efforts.
However, along the way to full digital transformation of procurement, many companies are ignoring a key aspect of their operations.
Perhaps it is the long-running schism between finance and accounts payable. Maybe it is the “we’ll just deal with that after go-live” or an unwillingness to face the reality of antiquated processes and infrastructure. But we find that many companies implementing a new procurement infrastructure lack the ability to do one of the most elemental aspects of the full process – entering complete invoices into their P2P system.
If this is your situation, you are not alone. We find, as we speak to many of your peers, that after “going live” on a new P2P system, as little as 3% of invoice volume makes it into the new system. The balance of the invoices may be still routed to the legacy invoice automation system or simply coded to the ERP for immediate payment. The reasons for this are as unique as each company, but the results are the same – incredible lost opportunities and significant value leakage.
Shelby has written an eBook to help address these concerns. It is simply titled, “Paper and PDF Invoice Digitization for P2P.” In this eBook, the topics we cover include:
- The critical aspects and costs of the “non-digital” invoice problem
- How to come up with a cost model for your particular “non-digital” situation
- Gartner’s perspective on “Success with AP invoice automation”
- Questions you can use to evaluate “next generation AP automation” vendors
Don’t allow your firm to be among those that lose out on the significant benefits of your P2P initiative. There are solutions out there to transform this “last mile” problem, and as always, Shelby is happy to have a conversation with you to discuss.
Have a great Holiday Season!
John Dreyer, President & CEO