Source-to-Pay Process

The Source-to-Pay process is a structured approach businesses use to purchase goods and services. It starts with identifying what is needed, finding and selecting the best suppliers, and negotiating contracts. Once agreed, the company places orders, and the supplier delivers the products or services. Finally, the company processes payment, ensuring everything is documented properly. This process helps organizations manage their spending efficiently, build good relationships with suppliers, and ensure that purchases meet quality and budget requirements. It streamlines procurement activities from identifying needs to completing payments.