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Digitize your purchasing process with Source to pay: all you need to know

Suitable suppliers are indispensable for every company. You can make purchases at the best conditions from the right suppliers. And have insight into the complete process from sourcing to contract management and purchasing to invoicing. You make this a reality by digitizing your Source to Pay process. This gives you more control over expenses, keeps your working capital free and improves the cash flow and liquidity of your organization. Discover everything about digitizing your purchase to invoice process on this page. Want to know everything about Source to pay and how to digitize your purchasing process? Read here all about Source to pay.

Source to Pay, what is it all about?

Source to Pay is a process approach that revolves around collaboration and synergy between purchasing and finance. In many organizations these two departments still operate completely independently of each other, while actions in the purchasing department have a direct effect on finance and vice versa. With Source to Pay you therefore no longer see purchasing and finance as two separate ‘islands’, but look at how the two can reinforce each other. Here you look at the process from ‘end to end’. Source to Pay offers a solution to digitize the entire purchase to invoice process. So that you can organize this more efficiently, tactically and strategically. From supplier selection to the payment of invoices.

The difference between Purchase to Pay and Source to Pay?

Unlike Purchase to Pay (p2p), Source to Pay (s2p) is based on the end-to-end process of contracting, ordering and paying for goods or services. More about procure to pay? Source to Pay covers all Purchase to Pay phases, but also affects contract lifecycle management, strategic sourcing and supplier management. With this, Source to Pay gives 360 degrees insight into the performance and expenditure of your organization. With Purchase to Pay, this is limited to an analysis of the purchased goods, without context around supplier satisfaction and contractually agreed purchasing.