Strategic Value of Source-to-Pay Cloud Technology Is Being Overlooked
Virtually all procurement and purchase-to-pay organizations surveyed by The Hackett Group consider source-to-pay automation and cloud technology only as an efficiency play. Looking at it only as a way to take paper out of processes misses its far greater potential when applied to more complex, higher-value activities such as sourcing, spend analysis, contract management and supplier risk management. By taking a limited, efficiency-based view of the technology, procurement often sees its proposals overruled in favor of higher company priorities.
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Virtually all procurement and purchase-to-pay organizations surveyed by The Hackett Group consider source-to-pay automation and cloud technology only as an efficiency play. Looking at it only as a way to take paper out of processes misses its far greater potential when applied to more complex, higher-value activities such as sourcing, spend analysis, contract management and supplier risk management. By taking a limited, efficiency-based view of the technology, procurement often sees its proposals overruled in favor of higher company priorities.