I have been involved in many procurement projects and heard many different methods of mastering spend control. The best advice I have always remembered and still find relevant is to consider the procurement puzzle as having six pieces.
Recently Professional Advantage ran a survey of 25,000 iPOS procurement users worldwide. The survey posed the question “If your organisation had an objective to decrease the accounts payable (AP) effort by x days per month, what would you target to achieve this objective?”
Scanning invoices in an attempt to reduce procurement effort is like ordering a faster fax machine because your current model is too slow. Why not get rid of the fax machine?
I have had the pleasure of discussing the benefits and experiences of electronic procurement with many customers. Although there are numbers of KPIs that offer various insights I am still drawn to the power and simplicity of the approach of a CEO I met a few years ago.