TECHNOLOGY
“ It is critical to have control over your company ' s spend and finance ”
MOHAMMED KAFIL SENIOR PRODUCT MANAGER KISSFLOW PROCUREMENT
Institute of Procurement & Supply ( CIPS ), up to 80 % of all invoices are generated from uncontrolled buying , even in large organisations with professional procurement functions . This is why , increasingly , businesses are looking to deploy automated P2P solutions as a way to control maverick spending .
P2P is a responsible solution P2P software works by streamlining the goods-or-services procurement process . Typically , they include solutions for requisitioning , purchasing , receiving and payment . P2P software comes in different forms . Some businesses install a P2P solution internally . Others buy from a SaaS ( Software as a Service ) company and host the P2P product on-site .
Increasingly , though , business is turning to cloud-based software providers , because the software vendor partners with the organisation to support its needs and processes , but remains responsible for the overall functionality of the P2P solution . P2P software can control maverick spending in different ways . It can allow procurement teams to enforce a ‘ No PO , no pay ’ policy by centralising procurement department functions . It can also provide a detailed spend analysis , which includes the names of those who have flouted procurement rules . Some solutions even flag repeat offenders .
As a certified procurement consultant , Mohammed Kafil is aware of rogue spending . He has been coaching companies to establish resilient digital procurement
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