Source To Pay (S2P) is an integrated approach to managing the procurement process from start to finish. It encompasses all activities from the identification of a need for goods or services, to the selection of a supplier, to the payment of invoices. The official business definition of Source To Pay is a comprehensive set of activities and processes that enable an organization to efficiently and effectively manage the entire procurement process. It is designed to streamline the process, reduce costs, and improve the quality of goods and services. S2P is an integrated system that allows organizations to manage the entire procurement process from a single platform. It enables organizations to track and monitor the entire process from beginning to end, including the identification of suppliers, the selection of goods and services, the negotiation of contracts, and the payment of invoices. S2P also helps organizations to reduce costs and improve the quality of goods and services by automating the procurement process and providing visibility into the entire process. By utilizing S2P, organizations can improve their efficiency and reduce costs while still ensuring the highest quality of goods and services.
