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Purchase to Pay Network

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2024 has been another turbulent year with macro factors such as geopolitical tensions, global sourcing risks and political instability all coming to bear. It’s been a time for CFOs to focus on careful risk management strategies and this will remain a priority as we move into 2025. For organisational success, businesses must adopt risk management practices to adapt to changing conditions. Experts of our CDP accredited webinar shared the key areas of concern that CFOs, CPOs and finance leaders should focus on as they look ahead into 2025, and why compliance and governance are critical for success.... Ultimately you can have the best solution in the world, but without the right implementation partner, you will struggle. How the solution is implemented is key. 'a single pane of glass' is needed, single P2P systems. The goal should be to run both procurement and finance strategies in parallel to get a holistic view of the business. It's very difficult to get control on processes without all systems in line. Implement technology for the right reasons, not to spend budget you have, but to drive efficiency. Have a vision to manage costs, gain better visibility and control those processes. The vision is needed for the success to be achieved. Good communication throughout the business allows freedom of choice and freedom of how managers adopt new tech and processes. Surveys are a great way to get community wide insight, and see the bigger picture. Risk comes in various forms. Reducing risk and making better informed decisions makes a huge difference when facing issues like manual errors and instability. Know all of your suppliers, have confident knowledge of your supply chain to mitigate and prevent supplier issues. Find out where you are spending, get your full supplier list and tier them. This will maximise your control of your supply chain, enable your organisation to have growth and to be proactive with anything that's going wrong in that supplier base. Watch the recap for the full run down >>> https://lnkd.in/deKzbG8 Ellen Leith, Editor, PPN, Matthew Hardaker, Delivery Director, Barkers - Procurement & Commercial Practitioners, Steven Schools, Head of Procurement, Vanquis, Shane Casey, Value Solutions, Coupa Software.

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Peter Ertl

...from manual mess to automated success...

1w

The insights from the webinar are incredibly relevant as we move into 2025. It's crucial to manage risk and have a comprehensive view of procurement and finance strategies. How do you see these integration challenges evolving in the next few years? 🌟

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