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SupplyChainManagement: Procurement is responsible for identifying suppliers, negotiating contracts, and ensuring cost-effective, compliant purchases. It’s heavily tied to spendmanagement, risk mitigation, and supplier performance.
Frank is the Director of Market Strategy at Cleo, where he is focused on helping companies get ahead and stay ahead despite persistent supplychain complexity. Every business has the opportunity to implement a procurement solution that promotes better overall spendmanagement while working cohesively with other procurement strategies.
However, procure-to-pay is definitely a subcomponent of the entire source-to-pay process. The key difference is that S2P includes the important stage of strategicsourcing, which is performed before you. Industry jargon refers to sourcing and the negotiation of terms and conditions as the “upstream” part of the process.
Raindrop Raindrop is one of a number of US procurement startups offering enterprise-level spendmanagement platforms. At its heart is a source-to-pay suite offering a range of functionality, with a complete suite of cloud-based modules. It is optimised for sourcing raw materials and purchased parts in manufacturing businesses.
However, procure-to-pay is definitely a subcomponent of the entire source-to-pay process. The key difference is that S2P includes the important stage of strategicsourcing, which is performed before you. Industry jargon refers to sourcing and the negotiation of terms and conditions as the “upstream” part of the process.
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