SOURCE TO PAY
Data enrichment and advanced analytics are transforming source to pay processes and the way companies track data throughout their supply chain and operations
WRITTEN BY : DOMINIC ELLIS
Most companies have some form of automation in place in their current source-to-pay ( S2P ) operations and the concept is certainly nothing new to most leading companies . But depending on how developed they are , what sort of business initiatives are prioritised , and where budget is allocated , some organisations are far further along in their automation journey than others .
The global pandemic has also placed pressures on procurement and supply chains like never before .
Historically , what held back capable organisations from automating further was a lack of understanding of what full automation looks like in practice and what this futuristic S2P environment entails . But now , in a remote-working world , digital efficiencies are essential from the mine to the office .
The benefits of automation of the procurement function are varied , but typically alleviate staff from manual , time-consuming tasks such as :
• Addressing user search queries
• Generating a purchase order
• Confirming three-way matching
• Routing and tracking requests
• Analysing supplier performance
• Flagging areas of increased risk concerning supplier sanctions As with any sourcing , once tasks such as these are automated , your team can focus on strategy and analysis , bringing value to procurement and your organisation as a whole .
Procurement leaders play a central role in mitigating supply-chain risks , protecting cash , enhancing productivity in operations , and making strategic choices that will help the company bounce back with a more
miningglobal . com 83