Source to Pay Process Automation Heat-map

Source to Pay Process Automation Heat-map

One of the questions we get asked a lot is what processes can you really automate within your Source to Pay process? It’s a fair question, there are far too many stories of software companies promising all the automation in the world and then not actually delivering on the promise. To help businesses we got our team of Source to Pay automation experts to look across the major processes in a typical source to pay process to see what the automation potential was. Here’s what our team found:

0

High automation potential

0

Medium automation potential

0

Low automation potential

High Automation Potential – The majority of activities can be completely or mostly automated

Medium Automation Potential – Some of activities can be completely or mostly automated

Low Automation Potential – Few of activities can be completely or mostly automated

how can we help you?

Contact us today, our team will be happy to assist you.

Source to Pay Automation Heat-map

How can businesses start to automate their source to pay processes?

With a range of different technology solutions out there from Basware to Coupa to SAP it can be hard for businesses to know which Source to Pay solution is going to be right for a business. At Valtatech, we want to use our expertise in over 70 source to pay automation and transformation projects to help businesses to drive measurable value from their finance and procurement operations. In our work we not only implement Source to Pay automation platforms but also work with businesses to help them understand their existing processes, their future-state processes and which technology would help them to achieve their future state.

To be able to reap the benefits of automation there is some ground work that needs to be done first.

Understand your current processes

First things first, you need to understand how your current processes are working and what requirements your stakeholders have. Conduct an in-depth analysis of current business requirements through key stakeholder interviews and current process reviews. This delivers valuable insights and resources such as:

  • Key insights into current procure to pay processes
  • Identification of key pain points
  • Identification of key levers to drive user adoption
  • Identification of key areas and drivers for financial return on investment
  • Identification of quick wins and longer-term development areas
  • Current state technology landscape map across Source to Pay processes

Map out your future processes

Utilising the insights and resources from the current process review, you can then start pulling together a clear and articulated vision of what the future processes will look like to inform resource and business planning processes. Additionally, from this process you should be able to produce clear and articulate technology requirements.

Assessing the Technology

Using the technology requirements garnered in the future processes you have a baseline to asses different source to pay solutions to deliver your to-be requirements. Typically, you should be assessing the following functional areas:

Supplier Management

  • Supplier Information Management
  • Manage Supplier Performance
  • On/Off Board Supplier in System
  • Compliance Management & Audits
  • Supplier Enablement
  • Track Service Delivery
  • Vendor Master Maintenance

Sourcing Management

  • Assess Category
  • Determine Category Plan
  • Prepare & Conduct Market Assessment
  • Prepare & Conduct Sourcing Event (RFX)
  • Conduct Evaluations
  • Select Supplier
  • Manage Project (in system)
  • Prepare & Conduct E-Auction

Contract Management

  • Create Contract
  • Execute Contract
  • Author Contract
  • Administer Contract
  • Negotiate Contract
  • Approve Contract
  • Terminate Contract

Spend Analysis & Reporting

  • Spend Analytics
  • Benefits Measurement
  • Exception & Compliance Reporting
  • S2P Process & BPO Performance Reporting
  • Identification of Spend Reduction Opportunities

Purchasing Management

  • Raise Purchase Request (PR)
  • Category Enablement
  • Approve PR
  • Approve Purchase Order (PO)
  • Create PO
  • Spot Buy & PR to PO Conversion
  • Confirm PO
  • Receipt PO
  • Change PO
  • Open PO Management

Invoice Settlement

  • Capture Invoice
  • Invoice Resolution
  • Match Invoice
  • Create Ready to Pay
  • Approve Invoice
  • Receipt Non-PO Invoice
  • Create Credit Note/Memo
  • Create Financial Accrual
  • Process FX Invoices

Payment Processing

  • Create & Release Payment in ERP
  • Authorise Payment in ERP
  • Manage Payment Status
  • Update Financial Records
  • Release Financial Accrual

Assessing Source to Pay technology solutions against these functional capabilities mapped against your future processes will ensure that you are selecting the right technology solution for your business.

If you are a Finance or Procurement leader who wants to get visibility and control of their spend, drive measurable business value and achieve efficiency through source to pay automation without disrupting their business operations. Book in a free consultation today.

Speak with an expert

Trusted by leading businesses across the region

We are source to pay automation experts with over 30 years of experience across the team and have been trusted partners of a number of leading organisations to deliver accounts payable automation and source pay solutions across APAC.

why our customers choose us

Our Focus on Business Value

Value is ultimately a common vision of what success looks like. It’s visibility. It’s savings. It’s user adoption. It’s compliance. It’s best practice. It’s all of that combined. It’s what we define, together, as our shared objective. Value is what we measure, what we strive for.

Partnership Approach

To help drive value, we work with you in an open and transparent way, we position ourselves alongside you every step of the way actively sharing both the risk and benefits with you – ensuring that we succeed together. That’s what we call partnership.

Source to Pay Expertise

Our team has over 30 year’s experience across successful Source to Pay transformations across the globe and have worked with some of the leading companies in a number of industries. We provide invaluable insights on how to ensure you are successful.