The challenge is to extract strategic value from S2P in a way that best fits the needs of your business. Technology alone isn't the answer. It also requires expertise that brings context and understanding to support procurement as it evolves. We believe this is the way to take the function to a whole new level – a level that improves services and reduces costs, but that also goes even further, delivering data and insights that impact the organization beyond the traditional boundaries of S2P.
Genpact's next-generation S2P is a comprehensive end-to-end program that serves the interests of all parties in the S2P sphere. Our S2P specialists apply digital technologies (including machine learning and artificial intelligence) to processes to bring sharper insights and market intelligence to procurement.
Our holistic approach to analytics blends strategy, operations, and governance, shedding light on new opportunities and lingering inefficiencies. By orchestrating smooth workflows that dismantle interoffice barriers, our methodology promotes cooperation and the sharing of best practices among disparate stakeholders. This stops the value leakage that occurs, for example, when people use non-preferred vendors.
Here's what we can deliver:
- Source-to-pay analytics that are clearly segmented and mapped to general ledgers, cost centers, and taxonomy. This visibility delivers insights and reveals opportunities for demand management and savings and improvements in spend compliance management
- Working capital optimization: a targeted analysis of payables performance that identifies differences in payment terms, early, and late payment patterns
- Cost modeling: a thorough analysis of all the direct and indirect products and services your company procures that details benchmark information, cost management, and contract opportunities
- Third-party risk management including supplier segmentation, initial screening, assessment, monitoring, auditing, and remediation – all linked to S2P analytics
- Market intelligence delivered in comprehensive and customizable reports that include financial analyses of supply markets and supplier dynamics
- Supplier performance management that drives continuous vendor improvement based on their performance metrics, stakeholder satisfaction surveys, innovations, and risk management
- Pre-built dashboards structured to answer common procurement questions and allow users to drill down through data to identify patterns and opportunities
- Tail spend optimizer generates tail spend insights to identify opportunities for greater leverage of volume and rationalization of suppliers
- Buying channel analysis assesses opportunities to reduce cost to serve using alternative ways of buying specific types of goods and services
- Contract analytics uses contract metadata to deliver insight into contract lifecycle management and key term utilization
We offer all of this on a modular basis, with four packages:
- Periodic snapshots
- Ongoing S2P analysis
- Advanced S2P analysis
- Full S2P analysis
Depending on your digital maturity and needs, we can integrate our technology solutions into your existing infrastructure. We can also integrate third-party applications from Ariba, Coupa, or other partners.