Procurement Terms
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Source to Pay (S2P) refers to the end-to-end procurement process encompassing activities from strategic to transactional. Source to Contract involves the activities of sourcing, negotiating and contracting with a supplier, whilst Procure to Pay refers to the process of raising a Purchase Requisition and Purchase Order through to the payment of the supplier. Managed effectively, Source to Pay can integrate a large proportion of procurement stages into one streamlined workflow, enabling organizations to optimize supplier relationships, control costs, ensure compliance, and achieve greater visibility and efficiency throughout the entire procurement lifecycle.
Specialism:
eProcurement
Procurement Operating Model
Procurement Process
Procurement Strategy