TECHNOLOGY
42 requisition into the system . To that end , we have implemented ‘ no PO no pay ’ for paper invoices that bypass the system for procurement .”
Orth highlights huge benefits to having the Ivalua system in place and a range of key enablers driving the potential for savings in the Source-to-Pay process and enhancing competitive advantage . “ Automation across the entire P2P process reduces inefficiencies . In the past we had 20 people in the finance department processing invoices by hand ; now we can avoid this repetition – I ’ m not talking about laying off staff but using resources in the optimum way ,” he says . “ Standardisation gives us one tool to use around the globe as we roll out with Ivalua . Transparency is enhanced with a faster end to end process from purchase requisition to payment . Everything is traceable in our system – no chance to bypass .”
Orth notes that compliance is enhanced because approval steps are required within the process before a purchase order is issued to both procurement and the budget manager , while Spend Management now has a muchimproved view across categories , even those with a small spend . “ Previously we had a system that only offered a historic view via invoices . Now we can see all the borderlines in every purchase order helping us to increase
JULY 2018