Lay expert groundwork for a best-in-class P2P system
We believe the best way to derive full value from integrating P2P starts with a deep dive into your present-state procurement and accounts payable (AP) methodology. When we've completed this research, we take a holistic approach, conducting process mining, deploying digital tools, implementing workflows, and applying analytics to ensure you get the best return on investment (ROI) in the purchasing and payment function.
Our artificial intelligence (AI)-powered business platform Genpact Cora, enhanced by procurement platforms such as Coupa or Ariba, is the basis for the technology we use. Our extensive network of partners ensures our solutions can adapt to your structures and systems.
We have the advisors, supplier management procedures, products, and catalogs for guided buying that mitigate procurement risks. Our talented engineers are experts in source-to-pay analytics, and we can host centers of excellence to realize the full potential of your data.
Here's how our solution plays out:
Stage one lasts three to four weeks. We establish the parameters of the project and begin gathering data to validate. We diagnose how you administer purchase requisitions, purchase orders, and goods-received documents. We review your buying channels and AP processes too, and make a high-level evaluation of your technology. And throughout this period, we meet with and interview P2P stakeholders – individually and in workshops – to capture their knowledge and expertise. All of this helps us identify areas for improvement.
Stage two lasts four to five weeks. We fine-tune what we've learned and put it to work. We flesh out the project plan, prioritize the improvements that will quickly deliver ROI, and outline potential opportunities down the road. At this point, we also design streamlined processes for buying channels, supplier management, and other critical functions. We also establish governance and compliance procedures that standardize contracts, policies, and processes.
In the final phase we execute your new P2P system and set up an analytics framework designed to help you get the most out of your working capital. To keep everything on track, we develop a roadmap of next steps and provide a business case that reflects the ROI of these initiatives. We tie any improvements we make in operations to improvements in the business outcomes you've identified, such as cost to serve, compliance, user experience, and resilience.