The Source-to-Pay event 2024: an inspiring afternoon at Burgers' Zoo.

A warm welcome by Derek

Derek kicked off the afternoon in a festive way. He took us on a journey through the creation and growth of P2P & Beyond. The many milestones and important lessons they have learned in recent years were reviewed.

“With the right people around you and new colleagues with your own expertise, you stay fresh and sharp,” says Derek. He also proudly announced that P2P & Verder will now continue under the name S2P & More. This also includes a new website and expansion to the Scandinavian market.

Surprising lessons from the animal kingdom

Then Constanze Mager, biologist and Head of Education at Burgers' Zoo, took us into the world of the animal kingdom. With her expertise, she made surprising parallels between the behavior of animals and people in business.

Constanze, for example, said that the leader of the silverback gorilla does not necessarily have to be the largest or strongest in the group. But it's just about the good ones leadership qualities, such as gaining trust, radiating peace, being able to resolve conflicts. As a project leader or manager in business, you also need these qualities to provide good guidance to your team.

Constanze offered a refreshing way to look at our daily activities and learn from nature.

Interactive Workshops: AI and Best Practices

The afternoon continued with two workshops in two separate groups. One group started working with A.I in the S2P process, led by Tom and Vikas. The other group changed under Ewald's leadership. Best Practices out with each other.

AI in the S2P process

The AI workshop started with an introduction to the role of generative AI in the S2P process. Tom shared valuable insights about using tools like ChatGPT. He also provided tips for formulating effective prompts. “The more detailed the prompt, the better the results,” said Tom. What you can use AI for? For example, for summarizing market consultation discussions, preparing a purchasing policy plan or writing RFPs, but it is also suitable for all types of communication that you carry out on a daily basis: in your project team, with your buyers and with your suppliers.

Then it was time to roll up your sleeves. We were allowed to work with a fictional case. Using ChatGPT, we came up with strategies to increase the percentage of auto-matching invoices and to use AI effectively during projects. “The strength of AI lies in the support that offers to make your work easier, but you're still at the wheel yourself,” Tom emphasized.

This session was so successful that we followed it up with a knowledge session on October 10. So: do you want to learn more about AI in the S2P process? Then sign up here!

Sharing best practices

What factors contribute to the success of a Source-to-Pay project? And what challenges did you face in your organization? The workshop led by Ewald focused on exchanging experiences and best practices. This provided great new insights, for example about how to ensure that the organization has more POs be created. For some participants, the PO% is higher than 90%, while for others, most expenses are Non PO.

Some of the shared lessons:

• As a Finance and Procurement department, work well together.
• Make it transparent which departments/suppliers are doing or are not doing well.
• Agree for each purchasing category whether Non PO invoices are allowed, possibly from a certain amount.
• Finely organize a product range and catalog per department/business unit.
• Make it easy to create POs.
• Make a correct distinction between 2-way and 3-way matching.
• Make sure your Master Data is in order.
• Make the charging of Creditor Administration costs dependent on the type of invoice (PO invoice is cheaper than Non PO invoice).

And finally: if you are unable to increase the number of POs, see where you can further automate and optimize the processing of Non PO invoices.

Speed dating among the animals

At Constanze's lecture, we had already heard a lot about the animals that Burgers' Zoo is rich in. During the speed dates we walked through the zoo in smaller groups. This allowed us to get to know each other better and make new contacts. This gave us the opportunity to see the animals up close.

The beautiful weather and the animal-rich environment created a relaxed atmosphere with many new ideas and collaborations. Some had such interesting conversations that they barely paid attention to the animals around them, while others were inspired by observing nature.

The House of Commons Debate

One of the highlights of the afternoon was Source-to-pay House of Commons debate. With Robert-Jan as debate leader, the discussion started on the statement “Artificial intelligence (AI) will revolutionize Source-to-Pay processes”. The proponents highlighted the benefits, such as cost savings and improved regulatory compliance. But the opponents argued that AI can bring change, but it will not be revolutionary and is not without risks.

End with a festive drink

Esmee, Tom and Vikas ended the day with praise for founders Derek, Ewald and Robert-Jan. Then it was time for a festive drink. Here, the guests were able to discuss the impressions of the day while enjoying a snack and a drink. This was also the time to move on networks.

The Source-to-Pay event 2024 was experienced as an inspiring and valuable afternoon. Not only with exciting knowledge sessions, but also a great opportunity to share knowledge. Exchanging ideas and looking forward together to further develop the S2P field were key here.

Do you also want to experience our events? We are organizing a number of other inspiring sessions later this year, including the digital edition of this event. You can register for our events here.

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