Controlled and streamlined indirect spend management is very important for a company’s success. Discover how P2P (Procure to Pay) solutions enable to ensure all spend is in compliance with budgets and company policies.
In indirect Procure to Pay Solution (P2P), organizations must manage complex procurement, accounting, supplier, and payment data across a wide range of processes, departments, and users. When purchasing indirect goods and services, most organizations deal with a larger supplier base, a different range of products, and higher invoice volumes with lower invoice amounts than in direct spend. Indirect purchasing is usually more at risk of maverick or fraudulent spend than direct goods purchasing, as indirect purchases are more often made outside of sourced contracts, and tend to be placed by employees across many different roles and departments. Procurement and AP managers must keep careful watch over indirect purchasing activity in order to ensure all spend is in compliance with budgets and company policies.
For this report, PayStream Advisors surveyed over 200 back-office employees across several industries and market segments to provide insights on:
- Current trends in organizations’ indirect spend processes
- The benefits of P2P automation for managing indirect spend
- Features and functionalities of P2P software
Fill in the form below and download our report to find out how P2P solutions can streamline and control companies indirect spends.