What is P2P Reform and Why Should You Care? It’s Part of Our Path Forward
LEXINGTON, Ky. (March 8, 2019) — Our Path Forward is a five-year financial and strategic plan designed to help the University of Kentucky chart its own path to a brighter future for students and the Commonwealth.
As part of that plan, a number of critically important initiatives are underway designed to make processes and procedures more efficient and effective, while also generating new revenues and saving dollars. One such initiative is a transformation of UK’s procure-to-payment system or P2P.
“We are creating more efficient processes for procurement, purchasing and payment activities across the campus,” said Eric N. Monday, UK’s executive vice president for finance and administration. “As part of the reform of this area, we are making some important changes to travel reimbursement and to some of our procurement card (pro-card) processes.”
Specifically, Monday said, UK is moving forward with the implementation of SAP Concur, a full-service solution to modernizing the P2P system. SAP Concur will replace the current travel system and provide a better user-experience, flexible workflow solutions and mobile support. In addition, the new system will replace the current travel and pro-card reconciliation processes and provide an enhanced user experience, improved workflows and standardized business procedures. The addition of SAP Concur to UK’s suite of core SAP products will create a unified solution for travel and financial expenses.
“We are making these changes for two reasons," said UK Provost David Blackwell, “to improve efficiency and effectiveness in our operations and to make it easier for faculty and staff to take advantage of these systems. SAP Concur will enable us to achieve these goals.”