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Home » Blog » Procurement Technology » 10 Key Take Aways: Transforming the Source-to-Pay Process

10 Key Take Aways: Transforming the Source-to-Pay Process

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Many senior managers view a source to pay process as merely a mechanism to complete a transaction. They completely miss the point that there are significant opportunities, cost and value improvements, benefits and integration points can be achieved through an effective source to pay process.

Organizations still run many source-to-pay processes on antiquated software spend cubes with add-on third-party software and in some cases even spreadsheets. While these systems are effective managing transactions, they are very limited in offering the vital data and tools to enable sourcing professionals to reduce complexity, ease the purchase burden on stakeholders, and provide the necessary data to aggregate and analyze this expenditure in a meaningful way. While purchasing a source-to-pay solution, the focus should be on the future and details about how reviewing and implementing a good source-to-pay process and system can provide strategic benefits that will improve productivity, efficiency, cost and value.

Learn More: Source-to-Pay-Process

It is surprising how many companies have not yet automated the source-to-pay process and have significantly created supply relationship issues, employee issues, extreme complexity, inaccurate financials and failure to effectively manage contracts.

S2P Source-to-Pay Digitization Diagnostic

Our latest insight report by industry thought leader, William Michels, FCIPS, CPSM, CPM, CEO Aripart Consulting focuses on a view of the future and details how reviewing and implementing a good source-to-pay process and system can provide strategic benefits that will improve productivity, efficiency, cost and value for the organization.

Learn More: Source-to-Pay-Digitization

Download this whitepaper to gain insights on:

  • Mega trends for 2020 – A look to the future
  • What you should do if you are weak in the source-to-pay process
  • Way forward for competitive advantage and survival in the digital world

Related Reads

  1. Blog – 5 Key Benefits of Source-to-Pay Automation
  2. Blog – A CPO’s Ultimate Guide to Selecting the Right Source-to-Pay System
  3. Zycus Source to Pay Solution Software
  4. White Paper – 8 Reasons to go for Integrated Source-to-Pay Suite
  5. Download Whitepaper – Essential Source-to-Pay KPIs, Implementation Mindfulness & Benchmarking
  6. Download Research Report – Robotic Process Automation in Procurement What leaders need to know about?
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