Procurement automation: Driving progress through supplier adoption
Although more than three-quarters of businesses possess a procure-to-pay (P2P) system, less than half of respondents to a Procurement Leaders study said they were satisfied or very satisfied with their current solution.
One reason buying organisations have yet to realise the full benefit of modern, end-to-end P2P systems has been low supplier adoption rates. If only 10% of an organisation's suppliers engage with its P2P system, then the solution will only deliver 10% of the anticipated benefits.
Artificial intelligence (AI) could help improve the user experience, speed and convenience of P2P systems and, as a result, prove crucial to increasing adoption rates from 10%–30% to as high as 90%.
Download this Procurement Leaders whitepaper, published in partnership with Nipendo, to gain insights into the following areas.
- Procurement professionals' sentiment towards existing P2P systems across a number of criteria.
- Leveraging technology to make P2P systems easier to use.
- Avenues to boosting supplier engagement.