The progression of advanced systems and operational intelligence over the years has lead to businesses/organisations having the ability to use data in a proactive way so that problems can be identified immediately. Data analytics and sensor information can identified the problem immediately with enhanced process management controls preventing the problem occurring at all. In the modern world, It has become the new ‘normal’ to to respond to everyday activities exceptionally.
Tagged: spend KPIs
I think everyone has seen and read the story about using drones to deliver your shopping. And it is not an April fool’s day prank. It looks real enough. The Jetsons have arrived.
I have had the pleasure of being involved in the evolution of the new Excel add-on for IPOS electronic procurement for SunSystems, iPOS XL. It will be released as two components, the first release supports requisition creation and the subsequent release will support invoice creation.
Typically, when an organisation overhauls their existing procurement practices they look at all the internal change management issues and often neglect engaging with their suppliers and getting them on board.
I’m always delighted when a company says “send me the invoice”. It’s a good measure of success for both parties. But my delight turned to horror recently when I was told “Oh yes, you can email the invoice if you want, but you must also post one to the finance address.
Punch out is the ability for a buyer to select and order goods from a supplier’s online catalogue from within the iPOS purchasing system.
I have been involved in many procurement projects and heard many different methods of mastering spend control. The best advice I have always remembered and still find relevant is to consider the procurement puzzle as having six pieces.
Recently Professional Advantage ran a survey of 25,000 iPOS procurement users worldwide. The survey posed the question “If your organisation had an objective to decrease the accounts payable (AP) effort by x days per month, what would you target to achieve this objective?”
XML stands for Extensible Markup Language. It is a generic term for a globally defined set of standards and rules that enable documents to be codified in a way that both humans and machines can read.
Scanning invoices in an attempt to reduce procurement effort is like ordering a faster fax machine because your current model is too slow. Why not get rid of the fax machine?