According to research from The Hackett Group, accounts payable best performers operate with 62% lower costs per invoice than their peers. This indicates a significant opportunity for companies not considered best performers to make significant improvements to their operations. "AP best performers operate with 62% lower costs per invoice than their peers." Key Metrics to Determine Procure-to-Pay Process Efficiency Price per financial transaction basis Transactions per full time equivalent (FTE) Purchasing’s span of control The...
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Procurement professionals today face numerous challenges in our perilous economic climate. Most companies are experiencing increased operating expenses due to inflationary pressures, supply chain disruption, supplier fraud, and loss of staff which all add pressure to your already overworked team. Xeeva is here to help! We exist to solve our customers' procurement problems by providing strategic resources to help with your Digital Transformation. Watch the Animated Video Here Digital Transformation is more than just cost...
Technology innovations, especially those driven by advancements in consumer buying, social technology, and big data management, can now be applied to pull together the complex web of suppliers, intangible deliverables, and inconsistent pricing and processes of indirect spend. These readily available technologies can meaningfully simplify the buying experience while optimizing other aspects of indirect spend cost such as supplier fees, terms and conditions, performance specifications, and performance management. If executed correctly, optimizing indirect spend adds...