Fine Tuning the Procurement Symphony with Source-to-Pay Automation – Intro

The procurement landscape is constantly evolving due to the volatile environment businesses operate in, changing political and economic conditions, legal regulations, natural calamities, etc. As highlighted in the Deloitte report, Charting the course – Why procurement must transform itself by 2020 the role of procurement has changed over the years – from being primarily associated with savings to being a catalyst in bringing sustainable transformations and adding value to the organization.

The report further goes on to say,

“Technology can help make procurement the organizational nexus of shared information to drive both administrative and forward-looking activities”.

Other interesting facts:

• As per the Gartner report, Magic Quadrant for Strategic Sourcing Application Suites 2013, there is an increased interest in solution suites as opposed to single point  solutions.
• As per the recent Pulse of Procurement 2013 study, 70% of European procurement organizations are deploying solution combinations or integrated solution suites.

So how is source-to-pay automation a good thing for your organization? How can it help fine-tune the procurement symphony (process)?

In this blog series we will discuss 9 reasons justifying source-to-pay automation is good!

Stay with us as we start out with the first three reasons in our next blog.