Key Trends in the Procure to Pay (P2P) Process
Recording and maintaining all data in the P2P process has grown to be a challenge and in the recent times, more and more companies, manufacturers and finance leaders are looking at technology for making the whole P2P process easier, simpler, robust and more profitable. Technology is ever-evolving and the latest trend is automation by using artificial intelligence and machine learning techniques.
How has automation helped P2P?
Automation helps in increasing the efficiency of procurement, decreasing processing times, improved visibility of finances and paper work, etc. Many companies are using artificial intelligence, machine learning, data analytics and Big Data to enhance the procurement process. Digitization helps in eliminating redundant procurements, enhancing decision-making, coming up with product innovation and likes. The face of P2P process has changed like never before, thanks to automation and digitization.
Yet another trend present throughout 2019 and is expected to extend to 2020 too is the creation of a talent pool that can adapt itself to latest changes in automation and digitization. To maximize the efficiency and utilization of digital technologies, there is a requirement of skilled personnel that is capable of implementing these services. Predictive analytics is going to play a huge role in the P2P process and it is a major skill that needs to be acquired. Also, change management has been an essential part of successful P2P goals.
The trends mentioned above, which kick-started in 2018 got carried into 2019, are still holding their position strong as the year draws to a close. For someone looking to make an entry into P2P process or enhance their career further, they need to keep themselves constantly updated regarding the latest trends in the P2P process. To be a part of the talent pool that is agile and adaptable to the latest trends running the P2P market, you need to bridge the gap between your skill set and the latest requirements of the market.
We, at iKalpa, are here to do just that! We provide thorough, robust training on P2P process that upgrades you for the expectations of the market and upskill your talents so that you can become a part of the talent pool that can effectively execute the job. We designed our course such that all the essentials in a daily procurement lifecycle are effectively covered. Our curriculum is spun around the latest market requirements and we cover many of the skills in demand, such as predictive analytics to give you that edge in the present day competition. We promise to help you transition from a student to a skilled professional who is ready to take on the tough challenges in the SAP world! To know more about what the course offers, Contact us today for a free demo!