Blog / Purchase-to-pay
Purchase to Pay – Current Business Trends
Right now digital transformation is speeding up and this inevitably affects the way we buy software and which software products are preferred. As a supplier of purchase to pay solutions
, you need to adapt your product offer as well as your charging model, if you wish to remain in business.
“Pay as you go” is the new mantra. Customers want minimal up-front investment, which is why Software as a Service – SaaS – is about to become the standard way of buying software. This, I believe, is an effect of improved cash management among businesses and organizations in general. “Cash is King” and companies want to have money in their bank accounts.
Today the world is fast paced and so are expectations when it comes to implementation of a new IT solution or software. In order to meet market needs, in terms of rapid roll out, we as a software supplier must focus on standardizations. The less customizations, the quicker a new solution can add value and be appreciated by the organization. This forces software suppliers to package their solutions in an attractive way according to best practice.
Access tools from outside the office
The fully digitized society is almost here and we notice this from our customer’s requests. Today it is VERY important for organizations and businesses, that work can be done remote
. Check invoices, authorize invoices, approve purchases and even assigning account codes – you should be able to manage all this on your tablet or smartphone. For many employers as well as employees, it is natural to do part of their work outside the office.
Service and attitude important on mature markets
In mature markets, like all the Nordic countries, suppliers offer very similar P2P systems of good quality. When customers choose between different options, aspects other than the technical solution are in focus. People want to be treated nicely and access help when needed, without delay. Service and support are key factors when evaluating different suppliers.
Buy as much as possible from less suppliers
A general trend within B2B is to reduce the number of suppliers and buy more from each supplier. This behavior is also true for software investments. You look for one supplier that can deliver a solution for the entire process and you develop a long term relationship with that supplier – provided that you are pleased with their product development and services.