Procure-to-Pay Best Practices (VISA & Deloitte)

by Erin McCune on June 12, 2008

in AP, B2B, Payables

VISA Commercial partnered with Deloitte Consulting to conduct the 2008 Global Procure-to-Pay and Commercial Card Best Practices Study. This is an refresh of earlier research.

Previously identified and still relevant best practices include:

  • Implementing an automated end-to-end financial process;
  • Using supplier relationship management tools;
  • Incorporating full data integration to provide enhanced reporting and spend analytics;
  • Adopting control and compliance measures.

I was pleased to see that the new best practices identified in this year's study emphasize change leadership:

  • Creating visibility and mainstreaming commercial payment initiatives;
  • Socializing initiatives with corporate executives and staff;
  • Utilizing cross-functional teams with centralized management;
  • Implementing full systems integration with enterprise applications;
  • Committing to ongoing program optimization.

Read more:

2008 Global Procure-to-Pay and Commercial Card Best Practices Study (Executive Summary)

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