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What is Source to Pay? Steps, Benefits, and Best Practices

Jaggaer

Everything You Need to Know End-to-end process and end-to-end solution may be one of the most overworked phrases in business and IT. And if your organization is big enough to need a Chief Procurement Officer , that person is directly or indirectly responsible for every stage of that journey.

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Strategic Procurement: 4 Tactics for Economic Recovery in 2021

ivalua

As a result of the disruption, cost management and supply chain visibility were suddenly top of mind for executive leadership teams. . The Procurement team adds tremendous value in many areas, including operational performance, product quality, faster time to market and more. Unfortunately, this is not usually the case.

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Source-to-Pay Digital Transformation: Roadmap for Efficiency and Resilience

Jaggaer

These four steps constitute the downstream procure-to-pay part of the process. Optimizing source-to-paythrough digital transformation streamlines every stage of your procurement strategy, improving visibility, efficiency, and collaboration. These begin with enhanced visibility.

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The Dirty Little Secrets in Procurement!

Supply Chain Game Changer

Lack of Visibility Beyond Tier 1. According to the 2021 Deloitte Chief Procurement Officer Survey, “Around 70% of CPOs felt that they had good visibility on the risks that existed in their direct (tier 1) suppliers. And, only 15% had visibility into tier 2 or beyond. Dirty Little Secret #1. Simply put, no.

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The Reality of Automation in Procurement!

Supply Chain Game Changer

According to a recent Deloitte CPO survey , Chief Procurement Officers (CPOs) mentioned that their main concerns are efficiency, costs, and digital transformation. Real-time data and analytics. Without interconnected systems, manual data transfer happens across systems using spreadsheets. Cost Saving.

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The Essential Guide to Source to Pay, Source to Contract, and Procure to Pay

Jaggaer

Or alternatively, as senior managers we only see the end results of procurement as figures on a spreadsheet or a financial statement, with little awareness of how they are arrived at and how they can be improved. To understand whats really going on we need, first, to step back and get a holistic view of the end-to-end process.

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Hey Procurement! It’s Time to SELL!

Supply Chain Game Changer

They have an end to end view of the Supply Chain. Strategic Procurement is focussed on how to drive innovation and unique capabilities to meet end Customer and stakeholder needs and requirements. Like most anything else Selling Procurement requires a deliberate Communications and Marketing strategy.