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

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Collaboration

Avoid costs and maintain close collaborative relationships throughout the full lifecycle of contracts

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Interoperability

Optimise supply chains by using responsive, interoperable and scalable systems

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Cost Saving

Deliver significant bottom line savings by reducing back office processing costs

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Insight

Manage of spend better through greater insights into their supplier landscape

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Combat Fraud

Respond effectively to the ever present threat of financial fraud

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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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What is Strategic Sourcing

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]

Read more

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