Why invest in Source-to-Pay Technology?
Every procurement organization needs an S2P digital strategy, but choosing a full-footprint S2P suite vendor should be a careful consideration. For instance, some suites are less integrated than buyers are led to believe while other integrated suites lack the capabilities to handle all spend or organizational/industry complexity. Understanding all of the ROI factors (not just TCO) is critical here.
- AP Automation (Invoice-to-Pay or I2P)
- Contract Lifecycle Management (CLM)
- Spend Analytics
- Supplier Management
- Vendor Management System (VMS)