VERTICE
Although invoice automation has attracted significant investment, he believes there is still room to improve how requisitions, purchase orders and approvals work together.
For Johan, the opportunity extends beyond improving the user experience or reducing manual work. He expects organisations to reconsider how they measure the success of P2P, moving beyond operational efficiency towards its contribution to financial performance.
“ It’ ll be the metrics that P2P is measured against,” he says.“ So right now, the success of P2P is measured against cost per invoice. It’ s measured against PO cycle times, it’ s measured against invoice approval times.”
“ The success of P2P is measured against cost per invoice”
Johan Mills VP Product Strategy Vertice
These measures remain useful, but Johan believes they do not fully capture the value P2P can deliver. He points to the potential for better forecasting and working capital optimisation, with purchasing and payment decisions more closely connected to financial outcomes.
Michael Keller, Director of Procurement at Vertice, presenting on AI spend optimization at Gartner Procurement Conference, San Diego