In many enterprises, the Purchasing and Accounts Payable (AP) departments often work in silos, with each pursuing its own business objectives. But there are significant operational and financial benefits to be gained from a stronger union of these functions. By treating the teams as two unique but complementary parts of one whole, enterprises can optimize spend, reduce costs, and improve their bottom line.
So the question is: What’s the best way to integrate Purchasing and AP? For starters ― a procure-to-pay automation platform.
A new report from PayStream and GEP ― Integrating Purchasing and Payables ― explores how enterprises can achieve greater efficiencies, savings and value by integrating their purchasing and AP processes with P2P software. The report also shares key P2P automation trends and best practices to help you build an integration initiative plan.
Recommended reading for all procurement and accounts payable pros, complimentary from GEP.