Source-to-Pay, or S2P, software comprises to a bundle of integrated applications within a single solution that manage each and every procurement process — from strategic sourcing to operational procure-to-pay needs. S2P software systems allow effective and efficient management of diverse activities such as spend analysis , auctions, purchase requisitions , sourcing events, billing and vendor relations.
S2P refers to the whole sourcing and procurement cycle, from the initial search for a supplier through the final payment for the goods or services purchased. Big data and other forms of digital technology are brought together by S2P software to produce the most streamlined and effective procurement procedure imaginable.
S2P is an efficient means by which organizations can realize their aims of locating new vendors that provide better terms, lower costs, or new commodities that their existing suppliers do not offer.
S2P ensures there are no time-consuming processes in finding suppliers, gathering bids from suppliers, bargaining, executing agreements, processing invoices, and making a payment. Software source-to-pay solutions online make optimizing supplier management and performance simpler and more accessible for businesses.
Organizations that use a source-to-pay platform to track transactions from their origin to the final destination:
Source to Pay can help enterprises automate their entire sourcing and procurement activities and drive significant process efficiencies and achieve bottom-line savings by using advanced S2P technology.
GEP SMART is an AI-powered, cloud-native source-to-pay platform for direct and indirect procurement. GEP SMART offers comprehensive source-to-pay functionality in one user-friendly platform, inclusive of spend analysis, sourcing, contract management, supplier management, procure-to-pay, savings project management and savings tracking, invoicing and other related functionalities.
GEP NEXXE is a uniﬁed and comprehensive supply chain platform that provides end-to-end planning, visibility, execution and collaboration capabilities for today’s complex, global supply chains. Built on a foundation of data, artiﬁcial intelligence and cognitive technologies, GEP NEXXE helps enterprises digitally transform their supply chains and turn them into a competitive advantage.