Procure-to-Pay platforms: Maximising market coverage
Procure-to-Pay platforms are a lucrative asset in a supplier’s arsenal of sales channels for B2B customers. But how can they efficiently maximise market coverage and maintain BAU? Our report investigates.
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How can EDI middleware help businesses manage multiple Procure to Pay platforms?
EDI middleware lets a business connect to multiple Procure to Pay platforms through a single integration rather than building a separate connection for each one. Orders, invoices and other documents exchanged with customers, P2P platforms and suppliers are automatically routed through this layer and fed into the business's core systems, making it easier to onboard new platforms quickly and manage growing order volumes without extra manual work.
Ensuring market reach is essential in an intensely competitive and uncertain business environment.
Particularly for B2B organisations that do not rely on typical consumer sales channels. For some, harnessing Procure-to-Pay platforms for their eCommerce/marketplace functionality has been lucrative in securing new business.
Organisations wishing to maximise market visibility will likely connect to multiple procure-to-pay (P2P) platforms. This is partly because suppliers can list product catalogues catered towards target audiences. However, maintaining various P2P platform connections can be quite a challenge. For example, due to high order volumes received from each platform, and the manual process of consolidating all P2P data.
Our report, Procure-to-Pay platforms: Maximising market coverage, explores this topic in detail. It covers how EDI can be leveraged as middleware to automate the exchange of all communications between customers, P2P platforms and suppliers.
The full report is broken down into 3 key areas;
- EDI as effective one-to-many middleware
- Rapid onboarding of P2P platforms
- Leveraging EDI messages for good buyer relations
We are able to offer expert insight on this subject following a large-scale project for a client. We were able to demonstrate our innovative and tailored approach to business automation and digital transformation. This included our rapid onboarding methodology and integrated paper-to-digital solutions.
As a result, our client met a hard deadline to have a new solution in place before the incumbent was withdrawn from service. Thanks to our solution, the organisation was able to efficiently manage 15 Procure-to-Pay platform connections, with over 300 customers total. Furthermore, the client has since expanded its business and onboarded an additional 100 customers. A result which, during such an unstable economic period, is highly sought after to future-proof business.
Get your copy of the report to reveal the details of these strategies and how they benefitted our client.
Frequently asked questions
- What is EDI middleware and how does it differ from a standard EDI integration?
EDI middleware is a layer that connects one business to many trading partners or platforms through a single integration, rather than the one to one connection used in a standard EDI setup. Instead of building and maintaining a separate integration for every Procure to Pay platform or customer, a business manages all of them through the middleware, which routes data to and from its core systems.
- How quickly can a business onboard multiple Procure to Pay platforms?
Onboarding timelines depend on the number of platforms and customers involved, but a clear staged process, covering planning, engagement, build and handover, allows many connections to be brought live within a few months. In one project, a client's full set of 15 P2P platforms and over 300 customers were live within nine weeks of project sign off.
- Why do B2B suppliers use Procure to Pay platforms alongside their normal sales channels?
B2B suppliers use Procure to Pay platforms because many offer eCommerce or marketplace style functionality that helps reach customers a supplier might not access through its usual channels. Listing product catalogues on several platforms suited to different audiences can be a lucrative way to secure new business, particularly for suppliers in more niche or specialised markets.
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