Why P2P and S2P Suites are not Enough to Address Enterprise Strategic Spend
Organizations invest in procurement suites for greater control over their spending. However, P2P / S2P suites are suitable for managing transactional spends and are not designed to handle the broader strategic spend (which accounts for 44% of enterprise spend).
In Spend Matters’ view, the solution isn’t to throw the old systems out. Instead, firms can enhance the ROI of their P2P or S2P tools by integrating a contract analytics- enabled CLM system capable of fully managing enterprise-wide strategic spend that falls outside the coverage of typical procurement suites.
Download this report by Spend Matters and SirionLabs to understand how typical procurement suites fall short when it comes to addressing strategic spend. Also discover ways in which a central enterprise CLM system supported by AI-enabled contract analytics can both fill the gaps of other systems’ more basic contract management functionality and uncover new opportunities that are inaccessible via other more generic approaches.