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Unique Problems Require Unique Solutions

ivalua

Enormous, complex, global enterprises use procurement technology to manage their spend, suppliers, contracts and bids every day without seeming to run into the same stumbling blocks as the public sector, which operates on a smaller and more localized basis.

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What Is the Source-to-Pay (S2P) Process?

Pipefy

Because this process ends when payment is issued, businesses adopting a source-to-pay model often use dedicated software to integrate procurement departments with accounts payable (AP) for end-to-end centralization of business and supplier interactions. They also make it easy for buyers to compare suppliers and negotiate.

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7 Best Procurement Tools to Streamline Your Business Processes

Pipefy

This process grants transparency and visibility into purchase orders and approvals to a sometimes surprising degree. When properly equipped with the right platforms, procurement teams can achieve benefits such as increased efficiency and productivity, cost savings, better supplier management, and improved process visibility and transparency.

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Procure-to-Pay (P2P) vs. Source-to-Pay (S2P)

Procurement Software

It enables: Building stronger relationships with your key suppliers Competitive bidding, which optimises cost Evaluating non-price factors important to your organisational objectives e.g. quality, lead time, sustainability Performing the appropriate pre-qualification of suppliers. Improvements to end-to-end supply chain efficiency.

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How Digital Procurement Tools Can Eliminate Busy Work

Procurement Software

Ultimately, digital procurement enables organisations to enhance the overall procurement experience, as well as increase efficiencies and transform their end-to-end procurement function. RPA will over time take away a lot of the need for operational buyers and purchase admin roles. What is procurement tech?

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Procure-to-Pay (P2P) vs. Source-to-Pay (S2P)

Procurement Software

Competitive bidding, which optimises cost. Improvements to end-to-end supply chain efficiency. Some of the more advanced procurement software offering source-to-pay functionality can also provide: Reverse auction capability, with complex functionality for bid and proposal evaluation criteria. Value Drivers (H3).

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What’s Next for Digital Procurement?

Jaggaer

This provides the foundation for visibility over all data, which is consistent for the execution of all processes, and for end-to-end process continuity, compliance and auditability. Earlier this year, JAGGAER introduced its own end-to-end platform, JAGGAER ONE: All processes, all data. One platform.