Top 5 Automation Opportunities in the Source-to-Pay Cycle
By Ilija Urginic, UK Market Director, Proactis
Source-to-Pay (S2P) is a complete end-to-end process that begins with sourcing products or services and ends with completing payment. Manual procurement processes are hamstrung by human errors, zero spend visibility, manual approvals, duplicate payments, and siloed processes that lead to inefficiencies, high risk, and maverick purchasing. The primary aim of automating the S2P cycle is to build value by creating an efficient supply chain.
Automation in the S2P process makes your organisation more productive. It’s for businesses that are looking to automate low-value tasks and want to improve efficiency and reduce costs.
Step-by-Step Approach to Transforming Your Source-to-Pay Process
But where do you start? Is it a full S2P overhaul? Or do you start small and then expand the scope? What will provide the most value for your business?
Have you already automated your sourcing process? Or your invoice management process? Or another aspect? Great, but there may be opportunities for further automation. Or if you are lacking automation entirely, you can start with one part of the process before expanding into an entire
Source-to-Pay automation transformation.
Read on to understand your options and how you can identify what will drive the most value.