Big Data, Business Intelligence, and Purchase to Pay: Each concept is overused yet and unrealized to many procurement professionals. Today’s ERPs just don’t give purchasers the granular information they need to fully monitor their spend.
Purchase visibility and analytics can yield a lot of value in Purchase to Pay, but only if you can get the spend information. In today’s environment with data stored in disparate systems – procurement system, ERP, and at vendor’s sites, “Big Spend Data” for many of us is a pipe dream. Imagine you want to analyze hardware spend about employee laptop purchases from your Dell web and CDW portal. Frankly, without an Application Integration or data feed from your suppliers, you cannot easily do so. With Kofax’s Kapow screen-scraping application integration platform, you can now grab the data from both web sites and populate a report in minutes. Even better, with Kapow Kaplets you can run that report every month.
Kapow puts the power of big data, social media, cloud, and mobile directly into the hands of users so that employees are informed, agile and empowered without the need for consulting, coding or APIs. Finally! We can get big data without the corresponding big IT project and budget. Kapow Kaplets are synthetic application interfaces that are created in minutes with very little IT knowledge. More than ever, procurement professionals are now able to harness the power of reporting and forecasting tools and transform spend management.
The benefits of Kapow don’t just end with procurement or even finance applications. Kapow connects applications not meant to be connected; it transforms big data into actionable insights. Maybe your organization relies heavily on social media trends and is looking to scrape subscriber data, or perhaps you are a corporate P2P professional looking to analyze utility fluctuations amongst dozens of satellite offices. Kofax Kapow has pioneered a simple solution to help you connect the dots and assimilate current processes.
Be sure to join PayStream’s lead finance automation guru, Henry Ijams and guest faculty and industry expert Art Sarno, Product Marketing Director for Kofax to discuss the power of Kofax Smart Processes for AP. Topics will include best practices for workflow architecture, essentials of smart processes, using synthetic interfaces for procurement analytics, and increasing connectivity and efficacy where you least expect it. For more information and to secure your seat, click here.
