Rising risks, costs, and inefficiencies
Source to pay teams are at the heart of every business. And for a good reason – they play a crucial role in managing spend across every corner of the enterprise. They engage with suppliers, negotiate contracts, and process invoices. But a lack of process integration, complex systems, and ineffective workflows result in slow processing cycles, poor employee satisfaction, and rogue spending.
Worse still, if employees don't feel that the function adequately supports them, they will find more secretive – and riskier – ways to procure the products and services they need to get their work done.
What source to pay teams need is an innovative approach that connects people, processes, and technology to improve the experience for everyone involved.