In today's fast-paced business environment, enterprises are constantly striving to get the most out of their operations programs – all while maintaining (tracking, vetting, sourcing...) strong supplier relationships.
Source-to-pay (S2P) operations are at the core of this endeavor. Yet, traditional approaches often fall short, plagued by manual processes and fragmented systems that create inefficiencies and silos. Meaning your teams are facing mounting pressure to increase collaboration and efficiency while managing complex compliance and supplier dynamics.
Fortunately, automated S2P solutions offer a transformative path forward, allowing
organizations to break free from outdated, labor-intensive practices.
Keep reading to learn how ServiceNow’s automated Source-to-Pay can facilitate collaborative,
end-to-end procurement operations and meet the needs of users across the enterprise with better functionality, improved internal requisitions and workflows, and streamlined supplier relationships.
Many enterprises today depend on multiple instances of enterprise resource planning (ERP) and other transactional systems to manage S2P processes. Each system is separate and equipped to handle a very narrow set of capabilities, such as invoice and payment processing. When teams need to collaborate, manual integrations or workarounds are typically required so systems are able to communicate.
Adopting an end-to-end S2P solution to automate S2P processes helps support better cross-departmental collaboration—bringing together previously siloed internal and external stakeholders and their technologies.
By unifying teams and tools into a single work experience, S2P stakeholders can:
Experience real-time savings
Control costs
Enable teams to audit their own information
Provide required and voluntary data on performance
Support better digital experiences for all
Many organizations have implemented ERP systems with procurement functionality built in or have introduced source-to-pay point solutions, but too often both options are overly complex— and slow. Usability isn’t optimal, which is a real problem because S2P activities today are being managed by stakeholders beyond specialized procurement teams. Collaboration itself can be difficult, extending solutions across complicated system landscapes or incorporating new personas and cross-departmental processes remains challenging for many companies.
However, if organizations work to understand the needs of stakeholders and adopt digital, end-to-end S2P solutions to automate and drive efficiency, then usability can be greatly improved for teams across the enterprise. The result is better innovation that creates transformative value for stakeholders.