Support Paper: Getting Ready for a P2P Transformation

The Why 

Once you have a thorough understanding of all aspects of the existing P2P system, you are now in a position to develop problem statements.  

This will act as a starting point for the production of a meaningful set of business requirements.  

Ensuring your business requirements are prioritised in order of business criticality is key. However, softer and less ‘critical’ may be in fact no less important. Often overlooked, areas such as supplier adoption, user experience and easing the route to market are all factors which will help drive the success of the project.

Validate 

Once you’ve completed your scoping session and have identified your core P2P system requirements, it’s crucial that you seek external validation on the appropriate providers for your needs. 

Consider the use of third-party market insight organisations, such as Gartner. Gartner provides you with the confidence that the software suppliers you are considering have been externally validated by a market expert, enabling you to shortlist in a more effective way. They do this through the provision of a market assessment report which compares different software providers across a range of criteria. 

To support you in the validation process you might seek the guidance of specialist providers such as Barkers who can help shape your requirements and ensure you find the right vendor. Look for organisations who will help you to focus on long-term value and transformational change which will positively impact all areas of the business.

Engage 

You’re now ready to engage with the shortlisted vendors to find out more about the technology they offer and how it can best support your organisation. This is likely to occur through an official tender process. At this stage it’s appropriate to create a Request for Proposal by inviting the suppliers to take the time to understand your business and allow them to demonstrate that their software has the functional and technical capabilities to meet your requirements. This can be achieved through a dedicated scoping session.  

Scoping sessions should be attended by finance, accounts payable, procurement and IT as these functions are most likely to be directly impacted by the implementation of a new P2P system, but they could include stakeholders from other areas of the business too. Questions these departments are likely to seek answers for are: 

• Does this vendor understand how my business works and what our current pain points are?
• Can this vendor demonstrate that their software is an improvement on existing processes?
• Is the technology user friendly and will it enable the accounts payable team to action core processes more effectively?
• Does the software allow me to get to market more quickly and efficiently?
• Does the software offer transaction efficiency?
• Does this software represent good value for money?
• Will the software talk to existing systems? 

During the scoping session, vendors will usually demonstrate the full functionality of their system. It’s important to be clear in your understanding of what elements of the software are included at the various different price points offered by the vendor.  

During the scoping session, as well as the technical and functional capability assessments, it’s important to consider the vendor’s approach to implementation, often a key indicator of added value and an area of differentiation between vendors. Consider: 

• What support levels will be provided to ensure a successful transition to a new system? For example, does the vendor have an approved implementation partner dedicated to supporting new clients to embed the system successfully?  
• How hands-on is the support? Does it include practical workshops or online support to upskill employees. 
• Is the support collaborative and comprehensive? 
• What is the frequency of support? Are regular touchpoints in place to address any issues or concerns. 
• What does that support look like in the longer term once the system has been in place several months?
• What are the timelines for implementation and does that meet our key milestones?
• Is there a cultural fit between the two organisations and their approach to the partnership?

The level of implementation support required varies from organisation to organisation and is frequently determined by factors such as the size of the organisation, the skillsets of the people within it and whether budget extends to specialist support. Be clear on how much support you are likely to need from the outset. 

Final Internal Commitment Test 

As an organisation you need to be ready to ‘fly out of the gates’ once the Statement of Work is signed with your new P2P provider. So before this occurs, take the time to do a final internal commitment test. This process ensures that all stakeholders are engaged, clear on timescales and provides clarity on pre-implementation actions required to secure a successful implementation from the outset.  

Your commitment test should involve:

• A statement of agreed roles and responsibilities across all stages of the implementation process. 
• Clarity on decision makers throughout the P2P implementation process and beyond. 
• An agreed timeline produced in conjunction with your P2P provider with internal approval.
• The production of a change management plan. Implementation partners offer crucial advice here as they understand where any pain points are likely to arise and can support with a change management process that will minimize any disruption. A robust communication plan is often the cornerstone of a strong change management plan.

Contract 

You’ve now undertaken the due process to prepare for a successful implementation and can complete contracts. Your implementation journey is only just beginning, but by following the process above, you’ll have put your organisation in the best possible position to ensure it is an effective one.