Source to Pay Digital Transformation for Financial Services

Transform Your Finance and Procurement Operations with our Solutions designed for Financial Services.

Financial Services businesses are under more and more pressure. Finance and Procurement leaders are expected to help build more resilient, cost-effective organisations. This is no easy task considering the headwinds that the industry is facing. Navigating constantly evolving financial regulations, changing consumer behaviours and cost reduction pressures. All while also keeping up with ESG expectations and reporting in procurement. It’s a massive task that can be full of risk.

At Valtatech, we help financial services companies like yours to evolve their operations. Turning their finance and procurement processes to drive value for the whole business. All through the implementation of source to pay automation technology and best practices.

If you want unparalleled spend visibility and control, we’re your perfect partners. Our Source to Pay Solutions (S2P) are designed specifically for you. Helping you to align your people, technology and processes to best practice. Delivering measurable value and return on your investment. All without disrupting your business operations.

Our Experience with Financial Services

We work with some of the leading Financial Services companies across the region.

Our team has extensive industry experience so we know each business is unique. We’ve seen first-hand Financial Services businesses struggle with:

Complex Regulatory Environment

Financial Services have to deal with very strict, complex compliance regulations. Coupled with the fact that these regulations constantly evolve. This increases the complexity and costs of compliance. Businesses need adaptable and flexible procurement systems to keep up.

Legacy Systems and Integration

Most financial services organisations have many legacy systems in place. They are usually fairly disparate and don’t integrate very easily with each other. This hinders data and spend visibility whilst impacting efficiency. Replacing all these legacy systems with modern technology just isn’t cost effective. Businesses need procurement systems and expertise to integrate their systems into one.

Supplier Risk and Management

Increasing regulations have pushed Financial Services to better handle their suppliers. From data collection, fulfilment and compliance, the visibility needed has increased dramatically. Layer on top global supply chains and dependency on many suppliers. Procurement is being asked to manage a lot more risk. Businesses need systems to help drive processes and automate supplier management.

Cost Control and Optimisation

Like pretty much every industry, the expectation is to be able to do more with less. Finance and procurement leaders need to balance cost savings with quality procurement. This strains resources as you try to optimise procurement spend on top of all these other tasks. It’s a resource and time intensive activity. Staff need to merge disparate data sources to try and get an idea of spend across categories. Businesses need a smarter, more intelligent and automated way to do this.

How Source to Pay Automation Helps Financial Services

Armed with our deep industry knowledge we have a range of solutions designed for you. These S2P solutions are designed specifically to address some of these key challenges. All while evolving your processes towards best practice and not disrupting your business. We’ve helped similar organisations across the region achieve measurable value. Our clients have enjoyed a range of benefits from our S2P solutions.

Enhanced Compliance and Risk Management

We have automated compliance checks and risk assessments within the procurement process. Ensuring adherence to regulatory requirements while reducing compliance costs.

Single Source to Spend Truth – Integration with Existing Systems

Your new S2P platform is integrated directly with all your legacy platforms. This may include systems like your ERP, Expenses and HR systems. Anywhere that has spend-related data. This eliminates data silos and provides complete data visibility and control. Enabling you to identify areas to reduce operational costs in a systematic way.

Improved Supplier Management

Our solutions utilise advanced analytics and AI to track supplier performance and risks. Supplier data collection and risk rating can be automated freeing up staff time. All while mitigating supplier management risks and driving contract compliance.

Complete Spend Control

Our solutions leverage automation to streamline the whole procurement process. We configure compliance to procurement policies within the system. We effectively combine compliance with a frictionless user experience. All the way from requisition to payment. Our systems are adaptable to ensure you have complete control over procurement activities.

Automating Sustainable Procurement Practices

Our S2P solutions have metrics and reporting capabilities to meet your ESG obligations. As part of your supplier management we automate this reporting as much as possible. This not only saves your team time in ESG reporting compliance. It also drives alignment with your sustainability goals, adding value across the business.

Success Stories

We’ve worked with 70+ organisations, each enjoying measurable value from our work. Here are a few of our most recent customer success stories.

Case Study: Driving Complete Visibility for a Leading Hospitality Group

We partnered with a leading Australian hospitality group to overhaul their S2P operations. They had spend-related data across 12 different platforms. This included ERP, HR, inventory, point of sale, and specialised industry platforms. To achieve true spend visibility these platforms needed to be integrated together.

Our team of integration experts designed and implemented integrations across their legacy platforms. All as part of their larger S2P transformation program. We established a connected S2P eco-system with a single source of spend truth. This provided our client with unparalleled visibility into their procurement and financial operations. As a result:

• They gained complete visibility into spending across all integrated systems.
• Procurement processes were optimised, enhancing financial transparency.
• Operational efficiencies were significantly improved, paving the way for strategic growth and scalability.

HammondCare Automates their Source to Pay System.

HammondCare automated their Source to Pay system with our solutions. Achieving greater efficiency and control over their spend all without business disruption. Read more

Konica Minolta Business Solutions Asia Accelerates Digital Transformation with Valtatech Partnership

Konica Minolta achieved a rapid digital transformation with our Source to Pay solutions. This enhanced their procurement processes and drove measurable business value. Read more

Our Proven Three Step Approach To Delivering Measurable Value

Our proven three-step S2P transformation approach is designed to deliver tangible results. The approach is tailored to your needs bringing in best practice where appropriate.

Step 1: Define – Process Deep Dive and Success Definition.

Our journey begins with a comprehensive assessment of your current S2P processes. We’ll work closely with your team to identify pain points in the process. We’ll also evaluate your technology stack and where data is stored. This helps us gain a clear understanding of your specific requirements and goals.

This in-depth analysis allows us to develop a customised transformation roadmap. We can map out a compelling business case that demonstrates the ROI you can expect. This roadmap will encompass:

• As-Is Process Assessment. We’ll analyse your existing S2P workflows, pinpointing areas for improvement.
• Maturity Evaluation. We’ll assess your S2P maturity level and define a path to achieving best practice.
• Custom Transformation Roadmap. We’ll craft a personalised roadmap outlining the steps required for a successful transformation. This roadmap will ensure alignment with your business objectives.
• ROI and Benefits Realisation Plan. We’ll quantify the potential benefits of your S2P transformation. This will include things like cost savings, improved efficiency, and enhanced compliance. The aim is to provide you with a clear picture of the value you’ll gain.

Step 2: Execute – Deliver Predictable Outcomes

With a clear roadmap in place, our team of S2P experts will put in place your chosen solution. We’ll prioritise best practices throughout the process, ensuring a smooth and successful transition. Key focus areas include:

• Streamlined eInvoicing and Supplier Catalog Setup. We’ll help establish a robust strategy for engaging closely with your suppliers. This will include things like eInvoicing and building a comprehensive supplier catalogues. This enables automation and improved data accuracy.
• Integration with Core Systems. We’ll connect your S2P solution with your existing systems. This will drive a single source of truth and provide complete spend visibility.
• Effective Change Management and Training. We’ll develop and deliver a comprehensive change management program. This will include user-friendly training resources that drive user adoption.
• Detailed Implementation Plan and Post-Launch Support. We’ll create an implementation plan that outlines every step of the process. You’ll be able to track our progress and have confidence in delivery timelines. We’ll outline what post-launch support looks like to ensure a smooth transition.

Step 3: Advance – Continuous Improvement for Sustained Value

Our commitment to your success extends beyond the initial implementation. We offer ongoing services to drive further automation and optimise your S2P processes.

• Platform Administration and Upgrades. We’ll handle ongoing platform administration and manage system upgrades. This will ensure you are getting the most out of the features of your S2P solution.
• Regular Testing and User Support. We’ll provide ongoing testing and user support. We will proactively address any issues and ensure your solution remains productive.
• Continuous Supplier Enablement. We’ll work with you and your suppliers so they are as integrated with your systems as possible.
• Supply Chain Risk Reduction. We’ll put in place strategies to identify and mitigate potential supply chain risks. Our aim is to safeguard your operational stability.

Partnering with us, you can free your team while we handle the heavy lifting of S2P optimisation. Learn more about Our Approach.

Why Choose Us for Your S2P Digital Transformation?

Expertise in Financial Services

With 30+ years experience in S2P transformations, we’ve seen it all. We understand the unique challenges of the financial services industry. We bring this expertise and insights to tailor our solutions for your business.

Proven Track Record

We have been trusted by leading financial institutions across APAC. Delivering source to pay solutions that drive measurable value time and time again. Our clients include Greenstone Financial Services, CHUBB, CBUS and ANZ among others.

Comprehensive Support

We are known for how we support you in your S2P journey. We provide support from initial assessment and process mapping to implementation and post-go-live. Our partnership approach ensures that we succeed together, sharing both risks and benefits.

What Our Customers Say About Us

Aaron Passfield Head of Procurement, HammondCare

“Valtatech’s unique offer and extensive cloud and digital transformation experience meant they were the perfect implementation partner for our Coupa Business Spend Management implementation project. Valtatech’s cloud-based eInvoicing technology also enabled us to set up a system with very little disruption to the business, our partners, or teams on the ground.”

Hanako Kato Corporate HQ General Manager, Konica Minolta Business Solutions Asia

“Valtatech has been an invaluable partner during the process of transforming our procure to pay (P2P) system. The project has helped us to reduce costs, identify risks and improve value delivery across the business; while providing the visibility and insights my team and I require to improve risk mitigation, due diligence processes and governance.”

Contact Us

Ready to transform your finance and procurement operations? Contact us today to learn more about our Source to Pay solutions. We can help you achieve greater control, compliance and cost efficiency today.