Discussing return on investment (ROI) is an important topic for anyone considering automating their procure-to-pay (P2P) system or considering eProcurement. Analyzing and pinpointing your company’s strengths and weaknesses is often a difficult process, unless you ask the right questions.
Assessing the gap between current and desired operations is the first step in determining the modules and functionalities that are required. For example, you will need to ask a series of questions like: what is the gap between purchase price and invoice price? If the price often varies, you have a larger gap in your business process, and therefore will see a higher ROI upon implementing a P2P system.
Subsequent steps include determining cost, timing, provider selection, “build or buy,” and most important, the consideration of overall IT future strategy pertaining to integrations and provider control. We have developed a P2P worksheet, which we hope you will find helpful. Please email me and I will be happy to send it out to you or answer any questions.