Is Source-to-Pay Consulting Effective?
When it comes to the process of finding, buying then paying for the goods and services that a business needs in order to keep running, the process can be a bit taxing. One great solution that helps the process is a source-to-pay-consulting professional that can ease the burden of the process. In fact, one step further than making things easier and more efficient, a great s2p consultant can show you where you can bring in more money and add value to each and every purchase that you make. So, is source-to-pay consulting effective? Keep reading, you might be surprised.
From Source to Pay
The whole source-to-pay process can be a bit daunting and intimidating. If you have an expert present to see where the issues are that can be improved, you have a way to make the most of your process. The whole process has to be broken down into steps that are unique to the needs of your company, and to the resources that are available. The s2p process is a series of events that have to take place in order to find the best sources and pay for these sources in the end.
Planning the Process
The very first step in the source-to-pay process is to plan out the entire process. If you sit down and look at the entire plan, you can get a better insight into where things need to be improved. This stage of the s2p process could really use the help of an experienced professional that has insights as to how to best proceed. In the planning stage, you will take a look at everything that needs to be procured, how it will be utilized and the best route to ensure a profitable endeavor. From finding the best sources to fulfill your needs, to establishing the most efficient way to pay for the sourced items, a consultant can help you to plan the steps and save money.
Generating Quality Sources
Technology has come a long way in the last few years. A consultant will have access to the kind of software that can make your life 100 times easier. Imagine if you can find and compare several sources against one another and find the ones that will bring you the most profit, and the highest reliability. An s2p consultant can help you to discover the best sources for your needs. With the help of an expert, you can contact and connect with the kinds of sources that will be best for the things that you need to be profitable and healthy.
Ordering and Buying Goods and Services
Once you have discovered your prime sources for goods, services, and whatever your business needs it will time to acquire them. In the sourcing phase of your s2p process, you will have made contracts with suppliers that have specific prices for specific numbers of goods or services. The contract agreements are not always cut and dry, and sometimes need to be reinforced in the buying stage. This stage is where you order the goods or services that you need and prepare to pay for them. This is where you go through the catalog, or online ordering system and bring your order to life. A consultant can steer you in the direction that you wll need in order to maintain every contract in order to ensure that you get the same prices that you agreed upon in the sourcing stage. You might be surprised at how often customized pricing gets overlooked in the ordering phase. S2p specialized software can make this part of the process simple and quick.
Is S2P Consulting Effective?
When it is all said and done, having the help of a professional is always the best way to go. From the beginning stages of planning to the end of the process where the money is paid out, there are so many details that can make or break the whole system. If all of the details are put together in a way that brings profit in every step, you will gain a substantial amount of money from the whole process where you were most likely losing before. If hiring a consultant could put literally thousands of dollars back into your pocket with every procurement, would you consider the experience to be effective? Most people would.