In this episode of FinTalk, Ivan Jesus, Founder and CEO of Finalytics, sits down with Monzir Abdel-Motalib, Transformation Leader at Instashop. Together, they explore why procure-to-pay breaks down and how people, processes and technology can work together to improve finance.
Key takeaways
P2P depends on joined-up processes
Monzir describes procure-to-pay as three connected stages: procurement, bookkeeping and treasury. A goods received note confirms that an item arrived, helping match the purchase order and invoice before payment is made.
Start with the problem and people
An ERP can execute a process, but it cannot design one or identify what the business actually needs. Monzir says transformations need clear scope, buy-in and collaboration across teams, with people empowered to use the solution.
Delays carry hidden costs
Relying on manual work can mean hiring more people for repetitive tasks and make errors harder to spot. Monzir also links slow, unreliable information to missed opportunities to plan growth and make decisions.
Match change to business maturity
A startup may first need a compliant system that brings costs together, while a more mature company may focus on improving workflows and reducing lead times. Monzir advises businesses to let their needs and stage of growth shape the transformation.
“Your people are definitely your quintessential part of any transformation.” Monzir Abdel-Motalib
Why it matters for founders
As your business grows, make sure your internal controls and finance processes keep pace with operations. Listen to the people doing the work, invest where it matters and be willing to challenge routines that no longer serve the business.
Our take
When bills, approvals and payments live in different places, cash leaks quietly. Joining them up, so every payment has a second approver and every cost has a receipt, is one of the fastest ways to get spend under control.
See it in practice: Restoring trust in the numbers (logistics case)
Watch or listen
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