Thought Leadership

Enterprise Source-to-Settle Transformation:

Operating as several autonomous business units, this company had fully decentralized and redundant sourcing, procurement, contract management, and accounts payable functions. In addition, the processes supporting these functions were inconsistent across business units, as well as completely paper-based and manually intensive. Many purchases were approved “reactively” upon receipt and manual routing of the invoice. Only a few strategic enterprise vendors existed – each independent business unit had it own set of vendors which prevented any
opportunity to consolidate spend for unit cost reductions. As a result, accurate and timely spend data was not available for business planning purposes. In the past, individual business units attempted to improve and streamline their sourcing and settlement processes, but these attempts were not integrated across the enterprise and as a result the cost savings realized were sub-optimal. The company needed a common, integrated sourcing through settlement solution that supported the entire organization.