KEY FACT

Organisations now have the data and AI-powered insights needed to manage spend, drive profitable growth and design supply chains that respond smarter and faster to disruption

INTRODUCTION

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KEY FACT

Organisations now have the data and AI-powered insights needed to manage spend, drive profitable growth and design supply chains that respond smarter and faster to disruption

No one can deny the immense evolution of source-topay( S2P) technology in recent years, not to mention the manner in which it has transformed operations within businesses of all shapes and sizes. Over the last 10 years, it has evolved from the use of procure-to-pay( P2P) and legacy systems, which created data silos, into a more sophisticated, connected method, driving business value for organisations of all sizes. While the original technology was primarily focused on cost reduction and automation, modern S2P now offers a multifaceted value that has a direct impact on profit. Procurement was previously hampered by systems operating independently and in isolation – leading to a lack of visibility and preventing strategic decision-making. But, as S2P has evolved, it has merged separate systems into integrated platforms – bringing sourcing, procurement, invoicing and payment