Your organization has made the decision to invest in a Source-to-Pay (S2P) technology and you have been asked to lead the selection project. The selection of a technology is typically a large investment, and you will be establishing a provider partnership that will last many years – it is critical that you select the right technology and partner. Recognizing this, you sit down to start thinking about your approach and quickly realize that selecting a S2P technology is a complex project that requires you to understand the needs of stakeholders throughout your organization along with the current functionality and capabilities of the S2P technology providers in the marketplace. How should you go about pulling together all of the information you need to effectively go to market? What questions do you need to ask of providers? Do you have a sufficient understanding of the technology to ask the right questions? How do you evaluate and compare the technologies?
Congratulations! Your company has made the decision to streamline and simplify the way they do business by investing in a source-to-pay (S2P) software solution.
Now, how do you get your suppliers to adopt the idea of transacting electronically? This S2P implementation impacts more than just your company; if your suppliers are not onboard with this change, it could create a strain on your relationships and negatively impact the bottom line.
Source-to-Pay (S2P) deployment projects are a large undertaking for any organization. These initiatives require a large resource investment, so there are high expectations on value delivery. There can be pressure to complete the project quickly leading many organizations to dive right into the deployment, which can cause challenges and risks to project delivery.
Nitor named a best-fit provider for SAP Cloud Procurement Solutions
June 4, 2019 /PRNewswire/ -- Nitor, a leading business process transformation services firm, has been granted SAP Recognized Expertise in cloud procurement solutions in North America. Nitor achieved this designation based on their skills and competencies, as well as their proven record of client success and satisfaction.
"For over 15 years Nitor and SAP have partnered to create value through technology and process transformation," said Sean Sollitto, SAP lead with Nitor. “We are proud to be recognized by SAP for maintaining high levels of satisfaction, solution quality, and service delivery.”
Even if you do not play video games, chances are you’ve heard of Mario Kart. The goal of this game is to finish the race first, or in the least amount of time, while avoiding shells and banana peels, which make you lose control. A Source-to-Pay (S2P) deployment is very similar – the goal is to implement the right tool as quickly as possible while avoiding major pitfalls. So, before you jump into your S2P deployment “Kart,” here are some shells and banana peels to avoid.
CLEVELAND, March 14, 2019 /PRNewswire/-- Nitor , a leading transformation services firm, has been awarded the contract by the State of Maryland for a new statewide e-procurement system, eMaryland Marketplace Advantage (eMMA).
“With the addition of this e-procurement system, Maryland is taking a significant step forward in the way we do business,” said Governor Hogan.
December is almost here…the critical planning season. Organizations are budget planning and goal setting for 2019.
Typically, this is when leadership starts to challenge Procurement for savings targets, value forecasts and projects for inclusion in budget and resource planning.
Working Capital Context – Which parts of the Cash Conversion Cycle do Procurement, Finance and Treasury teams care about?
This blog is the first of a 3-part series focusing on how businesses can get started on an effective Working Capital optimization initiative.
There is an old adage that you cannot manage what you do not measure. In response to this conventional wisdom, numerous Key Performance Indicators (KPI’s) have been developed in the core Working Capital functional teams of Procurement, Finance, and Treasury. The overarching goal in mind is simple: Strong Supplier Relationships AND Operational Efficiency AND Strategic Value. All three? That’s a challenge as each team has a different set of tactical and, at times, strategic goals, that often compete with each other.
Agree or disagree with this overarching generalization, the fact is some things in life are not absolute. Take the case of automating your entire invoice volume (a promise rarely kept). This promise is not broken out of misunderstanding, overselling or over-promising. It’s just the reality of our time, when we want and expect a single solution to solve all our problems.
On June 26th Nitor hosted a 1-hour webinar about how to best enable Procurement Transformation, titled: Realizing Value Through Procurement Transformation.
(If you were unable to attend the live event, don’t worry, you will be able to request access to the recording in the link below.)
The session, featuring Gary Stoddard, Partner at Nitor, highlighted what it takes for organizations to realize true value when looking to transform their Procurement practices.