Source-to-Pay Software
Digitalize your entire purchasing process, from sourcing to payment.
Weproc, your future Source-to-Pay solution
Source–to–Pay, or S2P in purchasing, is defined as a process for streamlining the sourcing, evaluation, negotiation and contracting with suppliers to efficiently source, order and pay for goods and services. This involves end–to–end integration with procurement platforms or systems to ensure process compliance and manage spend efficiently. Weproc is Source–to–Pay software that enables you to accurately analyze your spend, assess supplier performance and foster team collaboration to increase efficiency.
Source-to-Pay vs Procure-to-Pay
Source–to–Pay (S2P) and Procure–to–Pay (P2P) are two different concepts which, while both having a vital role to play in purchasing management, should not be confused.
Source-to-Pay
Source-to-pay, also known as “S2P”, is a process that encompasses all purchasing and supplier-related activities within an organization. It is an end-to-end process that begins with the identification of the right supplier and ends with payment to that supplier. Source-to-pay includes activities such as spend analysis, sourcing, contract management, supplier management, purchasing, purchase order processing, supplier invoice management and the payment process. A source-to-pay software helps to optimize purchasing management, reduce costs, improve supplier performance and ensure greater visibility and traceability of transactions throughout the process.
Procure-to-Pay
Procure-to-pay, also known as “P2P”, is a process that encompasses all the steps involved in purchasing within an organization, from the identification of requirements to the payment of suppliers. This process includes activities such as identifying needs, negotiating contracts, placing orders, receiving goods or services, checking invoices and finally paying suppliers. The aim of a procure-to-pay software is to optimize purchasing management, ensure compliance with internal policies and procedures, reduce costs, improve the efficiency and transparency of procurement processes, and strengthen relationships with suppliers.
Why choose Weproc as your Source-to-Pay software?
The relationship with your suppliers is an essential pillar of your strategy. Your company’s performance depends on two crucial factors: the amount you spend, and the quality of the products and services you order. These factors are intrinsically linked to the relationship you maintain with your suppliers. Without a close relationship and careful monitoring of their performance, your company’s overall performance will be affected. Weproc offers you the opportunity to work closely with your suppliers.
Our S2P modules
Purchasing Management Software
Control the management of purchase requisitions and commitments by implementing order validation workflows tailored to your organization. Digitalize administrative procedures to reduce business process costs: instant approvals, centralized purchasing files and connected budget management.
Sourcing
Put your suppliers out to competition directly on Weproc. Create consultations and invite your suppliers to submit their bids with a single click. Bids are automatically compared, saving you time so you can focus on your core business. Simplify your supplier relationships like never before.
Contract Management
Optimize your order management by making full use of your framework agreements and supplier contracts. Weproc is a complete S2P software package that facilitates the digitization of all your supplier contracts, ensuring optimized management. Ensure efficient procurement and state–of–the–art financial management with intelligent contract monitoring: receive alerts for tacit renewals, track consumption trends and automatically analyze your year–end discounts.
Supplier Performance
Optimize your supplier relationships and boost your company’s success. With our solution, you have the power to strategically monitor and improve your suppliers‘ performance. Gain transparency and control with advanced monitoring, evaluation and collaboration tools.
Spending Analysis
Control your expenses in real time with our tracking tool. You have an instant view of current and future commitments, and can react quickly if necessary. Our solution gives you total control over your expenses and helps you make the necessary decisions.
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FAQ
Frequently Asked Questions
Any questions ? We got the answers !
What is source-to-pay?
Source–to–Pay, or S2P, is an integrated approach to purchasing management that encompasses all activities from the sourcing and selection of products and services through to payment. This comprehensive process extends beyond simple purchasing, encompassing key stages such as strategic sourcing, contract management, ordering, invoice processing and payment.
S2P is particularly well suited to companies with complex purchasing needs that require a well–structured sourcing process. It offers a holistic approach to spend management, enabling greater visibility, mitigating supply chain risks and improving productivity.
By automating the S2P process, companies can increase efficiency, reduce errors and costs, improve compliance and optimize supplier relationships. The ultimate goal is to streamline purchasing processes to save money, increase value and improve operational performance.
How does source-to-pay software work?
Source–to–pay (S2P) software works by automating and streamlining the entire purchasing process, from strategic sourcing to supplier payment. Here’s how it usually works:
- Strategic sourcing: The process begins by identifying the company’s purchasing needs. S2P software is used to evaluate and select potential suppliers on the basis of various criteria, such as quality, price, reliability, etc.
- Contract management: Once suppliers have been selected, S2P software facilitates contract negotiation and management. It keeps track of contract terms, conditions, discounts and other important details.
- Ordering: S2P software also manages the ordering process. It facilitates purchase order creation, approval and tracking.
- Receiving and invoicing: S2P software tracks the receipt of goods or services ordered, and manages the invoicing process. It helps verify that what has been ordered corresponds to what has been received and invoiced.
- Payment: Finally, S2P software manages the supplier payment process. It tracks invoices, validates payments and reconciles invoices.
What's the difference between P2P and S2P software?
Although the Procure–to–Pay (P2P) and Source–to–Pay (S2P) processes are closely related, there are important distinctions to note. The P2P process focuses primarily on the request, purchase and payment of goods and services. It is a transactional process that begins with the purchase requisition and ends with payment to suppliers.
On the other hand, the S2P process goes a step further by integrating the strategic sourcing stage. This additional step enables us to identify and select the most suitable suppliers, negotiate contracts and effectively manage supplier relationships. S2P therefore includes all the stages of P2P, but begins beforehand, at the sourcing phase.
In short, while P2P focuses on the transaction, S2P offers a more global approach, taking into account the sourcing strategy. Choosing between P2P and S2P software will therefore depend on your company’s specific purchasing and supplier relationship management needs.
Why implement a source-to-pay software?
Implementing source–to–pay (S2P) software can bring many benefits to a company. It helps streamline and automate the entire purchasing process, which can translate into efficiency gains, cost savings, better visibility of spend, and greater control over purchasing.
In addition, S2P software offers an integrated approach to supplier management, from supplier selection to contract management and payment. This strengthens supplier relationships, improves supply chain performance and reduces the risks associated with supplier management.
Finally, S2P software can help ensure compliance with corporate purchasing policies and external regulations, by providing tools for monitoring, controlling and auditing purchasing activities.
What are the advantages of using a source-to-pay software?
There are several advantages to using source–to–pay (S2P) software:
- Operational efficiency: S2P software automates the entire purchasing process, reducing manual tasks and allowing employees to concentrate on higher value–added tasks.
- Cost reduction: By streamlining the purchasing process, S2P software can help reduce purchasing costs and generate significant savings.
- Spend visibility and control: S2P software provides complete visibility of company spending, enabling better control of expenses and identification of savings opportunities.
- Optimized supplier management: S2P software facilitates supplier management, improving communication, tracking performance and enabling efficient contract management.
- Compliance: By providing tools for monitoring, controlling and auditing purchasing activities, S2P software can help ensure compliance with corporate purchasing policies and external regulations.
- Improved decision–making: By providing detailed spend data and analysis, S2P software can help improve purchasing decision–making.