What is the end-to-end process for the Source-to-Pay (S2P) system?

Question

Accepted Answer

The end-to-end process for the Source-to-Pay (S2P) system involves multiple steps from sourcing suppliers to making payments.

Sourcing suppliers: Identify potential suppliers through research, negotiations, and contracts.
Procurement: Purchase goods or services from selected suppliers.
Invoicing: Receive and process invoices for the purchased goods or services.
Payment: Make payments to suppliers based on the agreed terms.
Supplier management: Monitor supplier performance and relationships for future sourcing decisions.