Five “Quick Wins” That Can Help Your Team Break Through P2P Performance Barriers

These five best practices – culled from some of the industry’s largest and most successful procure-to-pay teams – can help you break through barriers and move your operations from “good” to “great.”

1. CLEANSE AND MONITOR VENDOR MASTER

Concentrate on vetting vendors at the time of registration, before they are added to your master file.

2. ASSESS FRAUD AND FISK

Use proactive data monitoring and analysis to minimize your fraud losses.

3. GET MORE OUT OF YOUR RECOVERY AUDIT

For maximum returns, broaden your review beyond duplicate payments.

4. USE TECHNOLOGY TO IMPROVE GLOBAL VISIBILITY AND CONTROL

Look for an integrated technology ecosystem that works across all your P2P functions to avoid integration costs and maximize insights.

5. MAKE BETTER-INFORMED DECISIONS WITH BENCHMARKING DATA

Take a deep dive into data to see how you stack up and where you need to invest to become best in class.