Procure to Pay - Overcoming The Five Most Critical Challenges with Process Mining

Procure to Pay - Overcoming The Five Most Critical Challenges with Process Mining

In many private and public organizations, procurement has now become recognized as "the most complex business function" (Ernst & Young, 2020), a fundamental enabler for operational excellence, and the favorite target for achieving cost reduction. Chief procurement officers (CPOs) are concerned with having to deal with managing risk and compliance, increasing productivity, and optimizing purchasing spend to execute their job at the highest level.

This white paper outlines the approach myInvenio takes to provide an in-depth understanding of what really goes on in operations and its strategy for overcoming the five most critical procurement challenges (maverick buying, deviations, reworks, automation enablement, cash discount losses) by leveraging enterprise data and information.

myInvenio offers an intelligent process mining and digital twin of an organization (DTO) solution with unique features and capabilities to achieve operational excellence and overcome procurement challenges.

This white paper will also explain how to use the myInvenio solution to improve your core value chain and resources, tap into digital transformation capabilities, and turn risks in complex business scenarios into opportunities that create sustainable value for the entire organization using myInvenio.