S2P (Source-To-Pay)

Source-To-Pay (S2P) is a comprehensive, end-to-end procurement process from supplier selection to the payment of invoices. It involves the coordination and control of all activities related to generating purchase orders, receiving goods and services, paying associated invoices, and obtaining relevant documents from vendors. By streamlining and automating procurement processes, S2P can reduce costs and increase efficiency by minimizing manual tasks and ensuring timely payments. It also ensures oversight in order to ensure compliance with organizational policies and control spending. S2P provides organizations with valuable visibility into their sourcing and procurement operations.