Automation of purchase to pay workflows offers great visibility, and therefore control, of the procurement cycle. All purchases, orders, contracts and invoices that are processed as data, are also time-stamped, stored and easily retrieved and analyzed. This allows for continuous optimization of the procurement cycle.
For instance, requested purchases can be budget-constrained, lead times of different supply chains can be compared, and supplier rationalization opportunities can be identified. This, in turn, speeds up payments, mitigates supply risks, and improves overall working capital.