- Solution overview
The digital technologies and procurement expertise to drive actionable insights
Most enterprises have applied digital technologies to their source-to-pay (S2P) analytics processes. Yet too often, these new tools don't deliver the promised results to help S2P teams become data centers that supply business intelligence to boost competitive advantage. The reasons this happens include:
These inefficiencies even hamper S2P's effectiveness in its traditional role – its ability to reduce costs.
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:
We offer all of this on a modular basis, with four packages:
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.
Our S2P analytics helps procurement organizations quickly spot buyers with bad habits so they can encourage them to adopt better practices. That has a dramatic impact on compliance: one client saw it increase from 22% to 81% in just three months. On top of this, before we automated the procure-to-pay process, people had to manually check every single piece of paperwork. Now, staff only handle exceptions.
A leading UK retailer approached us for help with S2P challenges on multiple fronts. With too many ERP systems in place, it was hard to consolidate data to form a single source of truth about the procurement process. Leaders also lacked confidence in a system that still relied on Excel spreadsheets to produce an overview of spend. And because existing processes couldn't provide spend visibility, the procurement team couldn't support claims of cost reduction and savings.
The company engaged us to extract, consolidate, and enrich spend data, to manage governance and classify spend. To get the most out of the data, we brought in automation that retrieved it from multiple different systems, reconciled suppliers' details, and relocated everything to a cloud-based analytics platform where it could be regularly refreshed. Then we put a governance procedure in place to make sure any future changes to the system's business logic is properly managed.
The company's spend visibility quickly and dramatically increased – producing insights that now guide its sourcing decisions. What's more, the S2P team has cut reporting cycles by nearly 50%, more vendors now comply with contracts, trust in spend reporting has risen, profit and loss statements are more accurate, and the firm has realized new savings.