Procure-to-Pay P2P Software Accelerating Rise!
Over 80% of companies still handle their Procure-to-Pay (P2P) cycle manually, according to a procurement insights survey conducted in 2020. This is equivalent to cutting down a tree with a knife. Sure, it'll get the job done, but it's not the best tool for the job, as there are effective ways to do this. Procure to pay processes that are manual and paper-intensive present a slew of issues, including inefficiency, a lack of spend visibility, and the failure to maintain contract enforcement, to name a few. Today's procurement leaders are still searching for ways to cut down costs and save money by improving productivity. Global supply chains were severely disrupted as the world responded to the COVID-19 pandemic. When businesses struggled to manage their supply chains, the value of sourcing and purchasing jumped to the forefront of their concerns. Many companies, especially those classified as ‘critical businesses’ were under pressure to keep supplying services and goods ...