oboloo

oboloo Glossary

Source To Pay Systems

oboloo Glossary

Source To Pay Systems

Source To Pay Systems (S2P) is a term used to describe the process of procuring goods and services from suppliers, through to the payment of those suppliers. It is an integrated system that covers the entire process from sourcing, procurement, and payment. It is a business process that is used to streamline the entire purchasing process, from the identification of the supplier to the payment of the invoice. The goal of S2P is to reduce costs, increase efficiency, and ensure compliance with regulations. It is a key component of the overall supply chain process and is used to ensure that all aspects of the purchasing process are managed in an efficient and cost-effective manner. S2P systems can be used to manage a variety of different types of purchases, including raw materials, services, and capital equipment. By using S2P systems, companies can reduce the amount of time and money spent on the procurement process, while ensuring that all purchases are compliant with the company’s policies and procedures. Additionally, S2P systems can help to reduce the risk of fraud and errors, as well as improve supplier relationships.

Want to find out more about procurement?

Access more blogs, articles and FAQ's relating to procurement

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

© 2024 oboloo Limited. All rights reserved. Republication or redistribution of oboloo content, including by framing or similar means, is prohibited without the prior written consent of oboloo Limited. oboloo, Be Supplier Smart and the oboloo logo are registered trademarks of oboloo Limited and its affiliated companies. Trademark numbers: UK00003466421 & UK00003575938 Company Number 12420854. ICO Reference Number: ZA764971