Most people would likely agree that an organisation's approach is irrational, except for one insider defending tradition or uniqueness.
These scenarios may amuse you as they mirror your organization's habits, but realistically, you're not unique unless you're a top-secret government entity.
Organisations often encounter similar challenges and can benefit from exploring alternative methods. Change is possible and often advisable, but ultimately, it's a personal decision.
Resistance to change is common, as people often think it's difficult, but maintaining outdated methods can be more problematic.
Departments, like property or facilities management, often claim their processes are unique, but in reality, they share common elements like suppliers, invoice numbers, PO numbers, descriptions, and amounts.
Procurement plays a vital role in a business's operations, as it involves obtaining the goods and services essential for its functioning. Effective procurement ensures that a company secures the necessary resources at the right time and cost, facilitating seamless operations and sustainable growth.
By managing procurement efficiently, a business can optimise its supply chain, cut costs, reduce risks, and uphold quality standards. It serves as the foundation of any successful organisation, directly impacting areas such as production, inventory management, customer satisfaction, and financial stability.
We are frequently asked, what is your recognition rate, and how many invoices will process automatically?
Is this relevant, and what factors truly affect the ability to achieve this?
Straight-through processing means that when an invoice is received by an organisation, it is directly entered into their ERP platform for payment without any manual intervention. How is this accomplished?