Procurement Magazine October 2024 | Page 33

TOP 10

Source-to-pay ( S2P ) is the end-to-end process covering the entire procurement lifecycle , from finding a supplier to sending the final payment for goods and services . These platforms integrate key steps , including finding and assessing potential suppliers , undertaking market research , managing supplier information , negotiating contracts , creating and managing purchase orders and sending payments .

S2P also encompasses nurturing supplier relationships , ensuring compliance and optimising the procurement process to reduce costs and create a seamless procurement environment .
These platforms are comprehensive solutions that manage the entire procurement process , from sourcing to payment . Here , Procurement Magazine takes a look at the leading S2P platforms known for their robust features and significant market presence .
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