CASE STUDY
Improving the P2P process to reduce late payments and unnecessary administration
Problem
Our client, a financial services business was struggling to pay its suppliers on time, their purchase to pay process was extremely inefficient and resource intensive. All expenditure was being procured through a purchase order with a very high percentage being retrospective.
Solution
New purchasing channels were implemented and aligned to categories of expenditure which made the process far more efficient. This also made sure that controls were appropriate and proportionate to the expenditure value and risk. Finally, amendments were made to the purchase and invoice only process to remove unnecessary checks.
Results
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Improved payment on time accuracy by 30%
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Reduced FTE effort by 40%
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Created clear processes and channels to purchase
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Implemented revised purchasing policy
" " Working with Swan Procurement really helped us significantly improve the efficiency of our P2P process"
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Finance Transformation Manager
