Press release
The Hackett Value Matrix Quantifies the Value Realized From Purchase-to-Pay (P2P) Software Solutions Providers
New Market Intelligence Research Finds That Top-Performing P2P Solutions Providers Deliver Companies Dramatically Higher Value Creation MIAMI--(BUSINESS
About this update from The Hackett Group, Inc.
[{"type":"text","content":"\nNew Market Intelligence Research Finds That Top-Performing P2P Solutions Providers Deliver Companies Dramatically Higher Value Creation\n\n\n MIAMI--(BUSINESS WIRE)--\nThe Hackett Group, Inc. (NASDAQ: HCKT) today announced the availability of its purchase-to-pay (P2P) software solutions market intelligence research. The Hackett Value Matrix™ analyzes 10 leading P2P solutions providers in terms of their ability to deliver value, breadth of capability, solution maturity and actionable insight.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230823641401/en/The P2P Hackett Value Matrix charts the value realization, breadth of capability and solution maturity for leading purchase-to-pay solutions providers. High resolution image available on request. (Graphic: The Hackett Group)\nToday’s P2P solutions are a fundamental building block to enabling digital transformation for world-class organizations. These solutions transform procurement organizations into strategic, efficient and data-driven functions that drive cost savings, enhance both supplier and internal customer relationship, ensure compliance, reduce risk, and support business growth. Indeed, The Hackett Group’s research found that technology is changing the way procurement professionals work, and the best P2P solutions are using automation to create virtually touchless e-procurement environments, taking humans out of the equation. They also capture a tremendous amount of data to continuously improve spend visibility, while setting the foundation for the application of generative artificial intelligence to uncover new approaches for spend cost improvement, improve channel management and even rearchitect supply chains to reduce continuity risks.\n\n\nThe research from The Hackett Group® found that top-performing P2P solutions providers enable companies to achieve dramatically higher value creation than typical companies, including:\n\n\n\n$35-$45 million greater spend savings/avoidance (for a typical $10 billion company)\n\n\n\n73% touchless requisition-to-purchase order transaction automation\n\n\n\n68% key supplier adoption and transaction automation\n\n\n\n40%-60% improvement in spend visibility and spend management\n\n\n\n29% reduction in requisition-to-purchase order transaction cost, with 92% purchase orde...