5 tips for choosing a Procure-to-Pay solution

Investing in software for procure to pay is for many strategically important to meet needs and requirements for efficiency and control. But in order for it to be a successful investment, here are a few tips when choosing a supplier.

Cloud when you want to secure for the future
Procure-to-Pay is a business process - don't create an IT monster. With P2P (Procure-to-pay, Purchase-to-Pay) as a cloud service, you can achieve a flexible and scalable infrastructure where you don't have to make burdensome IT investments or scale up yourself. Cloud-based solutions offer availability, rapid deployment and regular updates without you having to lift a finger. In addition, if you choose a cloud service tailored for larger decentralized companies, solutions are often offered in a more flexible package, enabling different processes for different purchasing categories. This is an important aspect when scalability, security and further development of the service matter.

Standard is good - but flexibility in configuration is important
Standardization is important to increase efficiency and reduce complexity within the procurement process. By having a common platform for managing purchases and payments, you can automate processes to a greater extent, reduce the risk of errors and improve transparency throughout the organization. You could even say that it is the key to success. It also scales better. A standardized service means less customization - but if you choose wisely, there are still cloud services with a very high capacity for custom configuration to still meet unique needs.

Local provider with knowledge of laws and regulations
Anyone can make mistakes, but preferably not. How expensive can it be when it goes wrong? With that in mind, it's all the more important to choose a system partner who is familiar with and attuned to the local laws and regulations that govern the purchasing process and financial transactions you operate. After all, you may feel safe with both Scandinavian support and success management close at hand where you are.

Focus on security - ISO 27001 certification
Never compromise on security, especially information security. One indicator of a supplier's commitment to information security is certification to the ISO 27001 standard. This certification means that the supplier has established and maintains a comprehensive information security management system (ISMS). It includes risk management, constant assessments and updates to ensure data is encrypted, permissions are properly managed and your data is protected against cyber threats.

ROI, best practices and an engaged community
One of the most compelling arguments for investing in a P2P solution is simply its capacity to generate a clear return on investment. Choose a provider where you can see concrete examples of how the P2P solution has led to cost savings, improved efficiency and increased control. Make sure the provider has a strong track record and an engaged community of peers who are happy to share their best tips. It can be the difference between good and great results.