Source To Pay Process Flow Definition
In business, the term ‘source to pay’ (or ‘S2P’) refers to the process of procuring and paying for goods or services. The source to pay process encompasses all activities from identifying a need or opportunity, through selecting and contracting with a supplier, to receiving and paying for the goods or services.
The source to pay process is usually represented as a flowchart, with each step in the process represented by a different symbol. The most common symbols used in source to pay flowcharts are:
– Oval: indicates the start or end of a process
– Rectangle: represents an activity or task that needs to be completed
– Arrow: indicates the order in which activities should be carried out
The specific steps involved in a source to pay process will vary depending on the organization, but there are some common elements that are typically included. A typical source to pay process flowchart might look something like this:
1. Identify Need/Opportunity: This is the first step in the process, and it involves identifying a need or opportunity that can be met by procuring goods or services from an external supplier. This might be something like needing new office furniture, or hiring a contractor to carry out repairs.
2. Research Suppliers: Once a need or opportunity has been identified, research potential suppliers who can provide the goods or services required. This might involve getting recommendations from colleagues, searching online, or attending trade shows
