The Source To Pay Cycle (S2P) is an official business process that covers the entire procurement cycle from the identification of a need to the payment of the supplier. It is a comprehensive process that includes all the steps from the sourcing of materials and services to the payment of the supplier. The process starts with the identification of a need, followed by the sourcing of the materials and services, the evaluation of the suppliers, the negotiation of the contract, the purchase order placement, the receipt of the goods and services, the invoice processing, and finally the payment of the supplier. This process is essential for any business to ensure that the goods and services are procured in a timely and cost-effective manner. It also helps to ensure that the supplier is paid in a timely manner and that the business is able to track the procurement process. The Source To Pay Cycle is an important part of any business’s procurement process and is essential for ensuring that the business is able to get the best value for its money.
