Source to Pay processes are a critical part of any business’s operations. It is the process of managing the entire lifecycle of a purchase, from identifying the need for a product or service, to researching and selecting the best supplier, to negotiating the best terms, to ordering and receiving the product or service, to paying the supplier. Source to Pay processes are designed to help businesses save time and money, while ensuring that the right products and services are purchased at the best possible price. The process also helps to ensure that all stakeholders are kept informed throughout the process, and that all contracts and payments are properly managed. By having a well-defined Source to Pay process in place, businesses can reduce costs, increase efficiency, and improve their bottom line.
