Leverage finance tech to take back control over spend
Date: 29 Mar, 2017
For finance professionals in many organizations, the struggle to control maverick spend, purchasing from unapproved suppliers without the proper purchase order (PO) and budget approval controls in place, is a daily struggle. Procurement does its job of negotiating contracts and securing the best price and terms but without a robust system in place to control the spend of business users, their efforts may be in vain. This causes problems throughout the entire procure-to-pay (P2P) cycle, with accounts payable (AP) teams suffering the consequences when invoices arrive that cannot be matched pack to a PO, or even a registered supplier. Company time and money are ultimately wasted and suppliers are left waiting for payment as they go through a retrospective on-boarding process.
If this story sounds familiar, then you are probably among the 70% of businesses that are yet to implement e-procurement or supplier management technologies that ensure full visibility and control over the P2P process. SoftCo’s senior consultant, Garret Pearse, presented a webinar entitled ‘Take Back Control: Procurement and Supplier Management’ which outlined how you can take complete control over your organization’s spend this year.
“More and more companies are coming to us with serious compliance concerns around their supplier management and procurement processes. This session is all about sharing our experience and giving an overview of the technologies that can be leveraged.”
Killian McCarthy, Senior Consultant, SoftCo