When it comes to online purchasing & holiday cards, what do they really have in common? The answer is digital transformation.
This year I sent out about a half-dozen holiday cards. Why? Because I received a half-dozen blank holiday cards in the mail as part of a charity fundraising drive.
I considered it a lost art when I sent them out. Even down to sealing the envelope & picking out holiday themed stamps.
I haven’t sent out holiday cards in years, why? My communication has gone digital, whether that’s wishing everyone a Happy Thanksgiving or birthday wishes on Facebook (or whatever their new name is now) or a private holiday message on any other social media/instant messaging app.
Why my change? Simply put; it’s easier, faster, & certainly costs less. What does that have to do with purchasing? It’s the same digital transformational shift.
AP automation has gone digital & digital purchasing (punchout, e-commerce integration) makes the AP automation process of buying online even better.
The very same reason I don’t send out cards anymore is the same reason to move your businesses purchasing online where possible. It’s easier, faster, & less expensive.
Think about this, if a purchase request is raised on an eCommerce site when the invoice comes in the pricing will match, as the invoice is created from the source, removing pricing discrepancies!
As consumers , we’re already wired this way during this new age of digital transformation.
As the holidays arrive, we’ll begin to utilize online retailers to purchase gifts online & drop ship them where they need to go. Simple, faster, more cost effective.
Many businesses have started to purchase online for the same reason but there is a gap in the process if this doesn’t tie into your finance system.
This next step in the process also falls in line with our personal behaviors, our credit cards are providing us data on where we are spending money, by category.
As the digital transformation of spend becomes the norm, wouldn’t it be nice to then categorize that spend for analysis of procurement savings?
This type of insight has historically only been available to tier one companies, this is now changing as digital purchasing is fast becoming the preferred method.
Much like online services have changed the way we send holiday cards, digital transformation is changing how businesses purchase!