In Monday’s post, we quoted an except from Magnus’ interview on Spend Matters where he noted how important it is to start with the most important capabilities / modules and build out towards a full S2P suite (because he knows as well as the doctor does that a big bang approach typically results in a big explosive bang that usually takes your money and credibility with it). If you examine this closely, you see that you need to select not only the right starting solution, but a starting solution that can grow.
This requires a platform approach from the get-go. It doesn’t need to underlie the starting modules, it doesn’t need to underlie the ending modules, it just needs to underlie the suite you want to put together. It can be part of an application you already have or a third party application you buy later. But it has to exist.
The simple fact of the matter is that you can’t put together an integrated solution that supports an integrated source-to-pay workflow if you don’t have a platform to build it on. And you can’t patch it together just using endpoint integrations using whatever APIs — that’s just enabling you to push data from one point into another … or pull it from one point to another. That’s not an integrated solution, which requires an integrated workflow, just data integration. And while that is a start, it’s not enough. Especially when there is no one-size fits all category strategy and source to contract or procure to pay workflow for even the smallest of organizations with the simplest of needs.
So before you select any solution, the first thing you have to make sure is that it is built on, or works with, a true platform … otherwise, you may find as you undertake your S2P journey that a component you selected early does not fit the bill and you have to repeat steps … which is something you really can’t afford to do.