The Hackett Value Matrix Quantifies the Value Realized From Purchase-to-Pay (P2P) Software Solutions Providers - Seite 2

The P2P Hackett Value Matrix and related research is a product of The Hackett Group’s Market Intelligence Service. The service is designed to evaluate software and service providers’ ability to deliver quantifiable results from specialized and differentiated capabilities.

The research analyzed performance data in The Hackett Group’s extensive proprietary benchmarking database, software performance data from customers using the P2P solutions, and interviews with the solutions providers and end users. The Hackett Value Matrix analyzes providers’ unique capabilities against the benefit companies can achieve with the help of their solution. Providers that offer breakthrough capabilities and incredible value realization earn the distinction of Digital World Class.

Related to the P2P research scope, The Hackett Group analyzed solutions providers in four key areas: onboarding and data management; requisitioning and ordering; receiving and evaluating; and invoice processing.

According to The Hackett Group Principal and Global Procurement Advisory Practice Leader Chris Sawchuk, “A continuous improvement mindset is critical to procurement strategy in today’s challenging business environment. Change is constant -- from new suppliers to new technologies to new risks and regulations. In that context, our research identified the best P2P solutions providers as true innovators who are finding new ways for procurement organizations to derive more insights and deliver greater value.”

The Hackett Group Director Richard Gardner added that “We also found that the best P2P solutions providers excel in several other areas. They have dramatically streamlined the onboarding process for suppliers, integrating third-party solutions that pre-validate supplier data. Digital supplier collaboration is key to improving spend savings and reducing risk. They also offer solutions designed to address the complicated process of global invoicing compliance and the emerging area of reporting and tracking for environmental, social, and governance metrics. They are more flexible, provide greater channel coverage, and they require less customization improving speed-to-value for customers.”