Making sense of the Gartner Magic Quadrant for Procure to Pay 2021
The Gartner Magic Quadrant for P2P speaks for itself. Coupa shines – again. No surprise there....
29 October, 2021 No comment
What is Source to Pay?
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Source to Pay
[/vc_column_text][vc_separator type=”transparent”][vc_separator type=”small” position=”center”][vc_separator type=”transparent”][vc_column_text]Source to Pay (S2P) describes the procurement process from sourcing through to settlement or payment.[/vc_column_text][vc_separator type=”transparent”][vc_column_text]S2P covers a wide range of critical business processes from the identification of suppliers, negotiation and contracting, management of the life of the contract (Contract Lifecycle Management or CLM) purchasing and fulfilment as well as payment including all of the important financial processes of settlement and accounting.[/vc_column_text][vc_separator type=”transparent”][vc_column_text]To operate effectively, businesses deploy S2P tools and technology and use cloud infrastructure and business networks to capitalise on an increasingly mature digital ecosystem that can support seamless and frictionless trading relationships. Leaders in business use source to pay to:[/vc_column_text][vc_separator type=”transparent”][vc_separator type=”transparent”][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” z_index=”” background_color=”#ffffff”][vc_column width=”1/2″]
Supply Chain Visibility
More effectively manage supply risk through greater visibility and agility
Collaboration
Avoid costs and maintain close collaborative relationships throughout the full lifecycle of contracts
Interoperability
Optimise supply chains by using responsive, interoperable and scalable systems
Cost Saving
Deliver significant bottom line savings by reducing back office processing costs
Insight
Manage of spend better through greater insights into their supplier landscape
Combat Fraud
Respond effectively to the ever present threat of financial fraud
Source to pay processes provide the insight and agility to manage rapidly evolving supply chains. S2P has proved invaluable to many businesses during the 2020 pandemic allowing them to adapt sourcing strategies in record time.
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Source to pay software automates the financial supply chain integrating finance and accounts payable with sourcing and procurement supporting an end to procure to pay process.
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[/vc_column_text][vc_separator type=”transparent”][vc_column_text]Purchase to Pay
The Procurement Process[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_separator type=”transparent”][vc_separator type=”small” position=”center”][vc_separator type=”transparent”][vc_column_text]
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