Companies that adopt a digital model improve operational efficiency by 40%, see a 36% faster time to market, and meet customer expectations at 35% higher rate. For businesses that have to maintain complex documentation, workflows, invoicing, and customer and supplier interactions in IFS, the driving process for each of these components may have never seen an update from its original manual, on-premise oriented foundation.
While the prospect of updating processes that have long been done a specific way can feel daunting, the ability to iterate and evolve based on your business’ current stage while still leaving room to address your future goals is crucial. If you know it’s time to upgrade key workflows but are unsure of where to start, looking at the full scope of your procure-to-pay cycle is a great first step.
Get the full picture
There’s no need to change every mechanism that could be digitized at once, especially if you’re weary about getting your team to fully adopt and buy in.
Taking stock of your critical processes as they flow through each step of the procure-to-pay cycle can bring the big areas of opportunity to light. Ask key stakeholders to think about:
- What parts of the cycle take up the most room (in the office, in the budget, in our day-to-day, etc.)?
- Where in the cycle are we encountering the most errors due to manual entry?
- Where could we benefit from having more process visibility and transparency?
- Are we experiencing process inconsistencies/delays? Where in the cycle?
- In which areas do we need to increase overall process efficiencies?
As your team inspects the process for inefficiencies, you can begin aligning the areas where you can gain the most value short- and long-term. Astra Canyon’s comprehensive suite of digital transformation products were developed to manage components of your procure-to-pay cycle as needed to match your business goals.
Reaching a conclusion on where you can maximize value should come down to your top business priorities: be it reducing costs and time spent on labor, increasing visibility and automation, or improving reporting and auditibility, there’s a product available tailored to your specific needs.
Avoid complications while setting up for success
With over 20 years of experience leading the IFS space as a gold channel and services partner, Astra Canyon has the expertise and experience to be a consultative partner in your journey toward digitization.
When you’re adding extra layers to your business, there’s more room for error. Change is necessary to scale a business to the next level, but it’s often at these stages of transition that businesses lose their footing. Having an experienced partner in the driver’s seat means reducing the potential for a misstep, but keeps the business in your hands. With the foundation based on a deep understanding of what you do best, Astra Canyon allows you to stay focused on what you do best.