Consumer packaged goods, consumer staples, and consumer discretionary firms have traditionally viewed Procure-to-Pay (P2P) as a necessary business expense, to be managed as efficiently as possible. Achieving strategic business objectives through P2P automation was not a priority. But that's all changing.
Consumer goods firms have grasped the potential of P2P to drive working capital optimization - leading to a fundamental change in what businesses expect from P2P. But how much progress have these firms made in optimizing their working capital through P2P automation?