Close the Loop From Source to Pay
No matter the industry, geography, or size, many companies struggle to improve their source-to-pay procurement processes – despite intense pressure to reduce costs and boost efficiency. Streamlining procurement may appear to be an opportunity to cut expenses and boost efficiencies; however, these processes are often plagued with poor visibility into spend, limited management of suppliers, manual sourcing processes, ineffective contract management and compliance, and inefficient invoicing. Equally challenging are limited methods for creating and managing contracts and maverick buying of direct materials, indirect materials, and services.
SAP offers a targeted portfolio of procurement applications that can help organizations enforce standardized procurement policies, ensure compliance, and reduce expenses. Because these solutions integrate readily with other SAP and partner solutions and offer flexible deployment options inclusive of on-premise, hosted, or on-demand, they can be implemented as a complete portfolio or deployed incrementally to drive quick wins and fast return on investment.
Applications Designed for Optimizing the Source-to-Pay Cycle
SAP procurement management solutions can help you:
- Sharpen insights into procurement spending via access to accurate and timely spend data
- Improve supplier oversight and evaluation with full visibility into your supplier portfolio and lifecycle
- Build more efficient sourcing processes by identifying the best sources of supply
- Reduce procurement costs by encouraging competitive online bidding through RFIs, RFPs, RFQs, and auctions
- Enforce contract compliance and transparency by ensuring that negotiated terms and conditions are applied consistently
- Improve cash management and shorten closing cycles by streamlining the payment process
- Centralize your procurement spend by using a single solution for direct, indirect, and services purchases
- Deliver rapid time-to-value through sourcing, contract, and supplier management on-demand offerings
With better visibility and control of procurement processes, your company can reduce reliance on ad-hoc manual processes, curtail maverick spending, boost employee productivity, and leverage accurate data to make better procurement decisions.