Source to Pay (S2P) is gaining increased interest as a strategic financial management discipline. CFOs recognize that effective S2P processes can enhance decision support, business transparency and auditability, improve risk management and business agility and achieve cost savings.
This attention at the C-level of financial management reflects the evolution of S2P from a tactical efficiency and cost-takeout tool to a broader view that addresses other critical financial objectives. That said, many enterprises have to date achieved only limited benefits from their S2P function, largely due to a constrained view of the function.
This ISG white paper examines the key characteristics of an effective Source-to-Pay function and the trends shaping the evolution of S2P from a tactical to a strategic enabler that adds significant business value. By identifying seven common pitfalls and how to avoid them, the author shows CPOs how to optimize their S2P function.