Post-deal, if either company uses digital platforms as a part of their source-to-pay process, like invoice processing software, you can analyze performance metrics to identify snags and efficiencies. If both current companies do this, you can compare the two to determine which process is more efficient. For example, you can compare invoice processes for each company to find the bottlenecks that create delays in approvals.
You can also use industry benchmarks to measure progress. For example, Enverus best-in-class OpenInvoice PriceBook customers have close to 90 percent price book rate validation. These metrics help you make an informed decision about which workflow best practices to implement company-wide to drive economies of scale.
Enverus Professional Services team can help! Our team of technology experts provides assistance with technology implementation and optimization, systems integration, data management and technology stack and process analysis. We will help you accelerate integration so your new organization realizes economies of scale faster.
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