Improving Operational Performance With Managed Services For Source-To-Pay And Procure-To-Pay
Source-To Pay And Procure To Pay
Boardroom discussions over the efficacy of an organizations operational performance often consider investments in Softwaresolutions like source-to-pay (S2P) and procure-to-pay (P2P). Investment in these solutions has the potential to reduce redundancies, automate processes, and streamline organizational workflow, leading to an overall increase in operational performance. Managed services can be invaluable in optimizing the deployment and ongoing operation of such solutions; outsourcing the maintenance, utilization, and domain expertise of these tools to an external service provider.
Many organizations look at installing Softwaresolutions as akin to replacing gear in machine; simple, relatively straightforward task that requires little more than attaching the new gear to the appropriate part. What this view fails to consider, however, is how the new gear must interact with the rest of the machine in order to drive the desired outcome. The same is true for Softwaresolutions; underutilization due to lack of training or awareness of an organizations processes can lead to suboptimum deployment of the solution that fails to reap the rewards. Managed services for S2P and P2P solutions bridges this gap by providing an external, specialized resource that can ensure the optimized utilization of the Softwaresolution.
Managed services provide the added value of managing upgrades, monitoring compliance, and troubleshooting any issues that may arise during the course of the Softwares operation. As new regulations and changes to business processes arise, managed service is best-positioned to identify how the Softwaresolution can adapt in order to comply with the requirements. This can lead to marked increase in the Softwares performance, and hence the organizations operational performance. Furthermore, managed service can recommend changes to the Softwaresolution that can be effective in streamlining processes and boosting efficiency.
On more granular level, managed services provide the ongoing expertise for actively troubleshooting system issues, audit existing processes, and offer expert advice on best practices for system utilization. Through proactively identifying potential areas of improvement, managed service can suggest systemic changes that are advantageous for the organization.
Ultimately, managed services provide the necessary know-how to maintain the ongoing performance and optimization of Softwaresolutions for S2P and P2P. Leveraging the specialized expertise of managed service can enable finance executive to reap the full potential of the Softwaresolution, leading to marked improvement in the organizations operational performance.
