S2P augmented by best-of-breed
In the argument of best-of-breed versus source-to-pay (S2P) platform, it's our view that the S2P platform should be augmented by leading solutions to align with your organisation’s priorities. We believe there should be a backbone S2P platform, enhanced by a best-of-breed eco-system, implemented in a transformational approach across people, process and data.
Selecting best-of-breed applications
By augmenting the S2P system with best-of-breed applications, Chief Procurement Officers (CPOs) and their teams can proactively unlock the capability to tackle both long standing and emerging priorities – such as cost, sustainability, innovation and risk. We have identified leading solutions to support CPOs and to help navigate the complex market.
The typical agenda items that CPOs are seeking to address form four strategic pillars: cost, sustainability, innovation and risk. Best-of-breed solutions are also focussing their technologies on these areas. We have undertaken an analysis to identify market leading solutions in key priority areas.
Transformation of technology, people, process supported by data lakes
Any digital ecosystem that is created must be integrated alongside the S2P platform so that the tools and applications work seamlessly. Most importantly, however, is that the underlying data should be “clean” and consistent throughout.
People are at the heart of the procurement organisation. They must be the commercial partners which the business can rely on to drive value and deliver competitively.
Core processes are created to ensure efficient working and to enable the efficient leveraging of skills and technology.
Core system and data backbone
A core S2P platform streamlines transactional processes freeing time for people to focus on value adding, commercial activities.
Augmenting the core platform with best-of-breed applications to handle specific activity areas and provide people with the best tools to complete their role.
People, processes and systems are in synchronisation and drawing from a data lake.
S2P platforms should be central to a digital ecosystem, and the choice of a solution should depend on the challenges your organisation is facing. In our article we explore this in more detail. We are uniquely positioned to help you determine your priorities and begin your transformation journey.
Read our report below, and get in touch with us to see how we could design a procurement transformation that puts your organisation ahead of the curve in terms of business outcomes, by leveraging the most appropriate technologies available.