s2p(Source to pay) needs to be joined up
(Source to pay) is not normally a joined up process using a single system, and it is the gaps between the various elements that cause a mixture of rework by buyers and suppliers and the loss of information, knowledge and cash.
s2p(Source to pay) - Start with Spend Analysis
shows that the public sector is only using the contracts that it has let about 30% of the time with 70% of spend off contract, so having a good p2p
process is as important as sourcing to realise the benefits from improved sourcing.
However, the saying of let and forget is true in far too many cases, but let us look at some savings in an ideal joined up world since this makes it worth the effort of improving processes.
s2p Benefits from £ 100 billion of SpendInsight
TOTAL (19.1% - 49%)
- (0.1%-0.5%) Duplicate Payments
- (2.5%-8.5%) savings on incorrect orders
- (6.5%-15%) no price agreed on order
- (5%-15%) improved terms from suppliers for etrading
- (5%-10%) savings through improved negotiation on contract items
s2p(Source to pay) Guaranteed Savings from SpendInsight
@UK PLC Guarantees that a Spend Analysis will show significant potential savings, and provide the immediate savings to fund a full s2p eprocurement project.