"It is crucial for Purchasing Departments, to take into account both human and technological criteria when selecting and implementing a Source-to-Pay solution in order to maximize the profit”, says Dan Amzallag, CEO of Ivalua Inc.
Redwood City, CA (PRWEB) July 10, 2014
Ivalua, the global leader in Spend Management, announced the latest results of the 4th “Trending in Procurement” report on the value of the "Source-to-Pay” suite model.
Every day multinational corporations process thousands of invoices, purchase requisitions, supplier data, contracts, expense forms etc. To meet this challenge, more and more purchasing departments are deploying "Source-to-Pay" (S2P) suites which can be defined as a suite of integrated applications designed to manage the procurement processes from strategic Sourcing and Spend Analysis to operational Procure to Pay, all within a single solution.
The S2P suites model allows an easy and efficient management of activities such as: auctions, spend analysis, purchasing categories management, purchase requisitions, event sourcing, billing, and vendor relations within the same solution. In order to understand the value of S2P suite model fully and obtain the feedback from Purchasing Department on their user experience and their expectations of S2P suites, “Trending in Procurement” surveyed more than 200 procurement professionals based in North America and Europe between March and April of this year.
The main results of the survey are:
- Purchasing Departments consider the Source-to-Pay suite model a true performance driver, as it improves procurement team performance (100% of respondents) and contributes to a better spend analysis (90%).
- Performance gains are more obvious in homogeneous-suites environments (one code, one database, one architecture) than in heterogeneous-suites environments (suite of non-integrated modules, operating from different codes, databases and architectures).
- The procurement categories most often cited, as being a target for a specialized solution (or niche solution), were travels and expenses, services, and raw materials procurement.
- 72% of survey participants stated that the deployment method best suited for Source-to-Pay solutions is a phased deployment, module by module.
- The main challenge of implementation of Source-to-Pay solutions is neither a consequence of the maturity of the proposed solutions on the market, nor their benefits, but the length of the deployment/implementation period (91%).
"The Source-to-Pay suite model is a powerful tool for any Purchasing Department looking for new drivers to improve their organization performance. As demonstrated in this last edition of the Trending in Procurement survey, it is crucial for Purchasing Departments, to take into account both human and technological criteria when selecting and implementing a Source-to-Pay solution in order to maximize the profit”, says Dan Amzallag, CEO of Ivalua Inc.
Click here http://www.ivalua.com/news/source-to-pay-e-procurement-solutions-a-real-performance-driver-for-purchasing-departments to download full results of the survey
To learn more about Ivalua, visit: http://www.ivalua.com.
Founded in January of 2000, Ivalua is currently ranked among the leading worldwide Spend Management solution providers. Successful in both Europe and the US, Ivalua has deployed several hundred projects for large international companies in a wide range of industries.
In light of its experience and of its multi-sector expertise, Ivalua continues to support an extremely proactive product innovation policy that centers on bringing its users the greatest value, efficiency and ease of use, day in and day out.
For more information, please visit http://www.ivalua.com.