Over the last few weeks, we've been discussing what corporate procurement can learn from the B2C buying experience, the importance of a Search-Buy-Pay strategy, and the changing metrics of modern Procure-to-Pay.
To continue our discussion, we have taken our experience with our blue-chip customer base to create a multi-part series around the value of Search - Buy - Pay to the Procure-to-Pay process.
The series, started a few weeks ago, is broken into 4 separate briefs, each discussing Procure-to-Pay technology across various subject matter:
Competitive Differentiation: This brief explores the history of corporate procurement technology as well as the fundamental disconnect between today's existing P2P architectures and today's best-in-class B2C technologies. This brief also arms procurement professionals with the information they need to better understand what differentiates leading procurement teams and technology solutions in today's dynamic, rapidly changing, business and technology environments.
Defining Customer Value: This brief explores the metrics that truly matter when building your business case for P2P technology, with a view to applying B2C metrics to the B2B purchasing experience.
Delivering Customer Value: This brief defines the path to achieving P2P excellent through BuyerQuest technology. Included in this brief is a value ramp which clearly identifies stage by stage milestones focused on rapid time-to-value through the incremental addition of capabilities. The brief also shares examples of customer successes and a sample return on investment.
Solution Overview: This brief describes the simplification of the core phases of corporate purchasing - Search, Buy and Pay - with a focus on taking the best of B2C purchasing and applying it to the corporate buying process. This brief identifies the features and benefits of BuyerQuest eProcurement with an eye to achieving measurable success through improvements in spend under management, contract leakage, and user adoption.
If you have not read these briefs, be sure to click on the links above to download them.
Procurement is at a crossroads. Technologies have not delivered on the promised savings or process improvements. Now is the time to truly transform the Procurement organization and apply B2C principles to corporate buying. Only then will user adoption grow, increasing on-contract spend along with a myriad of classic performance metrics that till now have plateaued.
Enjoy the briefs and be sure to let us know what you think.