Improving spend transparency with S2P systems

𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝘀 𝗣𝗮𝘆𝗮𝗯𝗹𝗲 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝘁𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗶𝗻𝗴 𝗶𝗻𝘁𝗼 𝗮 𝗦𝗽𝗲𝗻𝗱 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻? “Most organizations waste 𝟯-𝟰% 𝗼𝗳 𝗼𝘃𝗲𝗿𝗮𝗹𝗹 𝗲𝘅𝘁𝗲𝗿𝗻𝗮𝗹 𝘀𝗽𝗲𝗻𝗱 on excessive transaction costs, inefficiency, and non-compliance. For an organization with an 𝗮𝗻𝗻𝘂𝗮𝗹 𝘀𝗽𝗲𝗻𝗱 𝗼𝗳 $𝟮𝗕, eliminating that leakage could send $𝟳𝟬𝗠 𝗮 𝘆𝗲𝗮𝗿 𝘀𝘁𝗿𝗮𝗶𝗴𝗵𝘁 𝘁𝗼 𝘁𝗵𝗲 𝗯𝗼𝘁𝘁𝗼𝗺 𝗹𝗶𝗻𝗲. - McKinsey & Company, A Roadmap for Digitizing Source to Pay Organizations are under increasing pressure to better manage their financial health via tighter spending policies and controls. Companies that fail to implement a robust spend management system that can adequately capture, manage, and control every dollar that leaves the company bank account will be forced into a reactive approach to managing their costs and cash positions. A disparate set of point solutions along with organizational data silos will introduce challenges such as rogue spending and low-value manual work to unreliable records and access control risks. It is important to provide a single source of truth for all spending data which can be accessed in real-time to promote better transparency, accountability, and collaboration. Transforming into a spend management solution would involve expanding current capabilities beyond invoice processing to gain a more holistic view of the spending, making better decisions about how to allocate resources, and reducing the overall costs. 𝟰 𝘀𝘁𝗲𝗽𝘀 to take in transforming to a complete Spend management system 𝟭. 𝗜𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗲 𝘄𝗶𝘁𝗵 𝗼𝘁𝗵𝗲𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝘀𝘆𝘀𝘁𝗲𝗺𝘀: This will allow the AP solution to access data from other areas of the business, such as procurement, inventory, and finance. This will provide a more complete view of spend and make it easier to identify opportunities for savings. 𝟮. 𝗨𝘀𝗲 𝗱𝗮𝘁𝗮 𝗮𝗻𝗮𝗹𝘆𝘁𝗶𝗰𝘀: The AP solution can use data analytics to identify trends, patterns, and areas of opportunity for cost savings. This data can also be used to create budgets and forecasts. 𝟯. 𝗔𝘂𝘁𝗼𝗺𝗮𝘁𝗲 𝘁𝗮𝘀𝗸𝘀: The AP solution can automate tasks such as invoice processing, supplier management, and risk management. This will free up time for AP professionals to focus on more strategic activities. 𝟰. 𝗣𝗿𝗼𝘃𝗶𝗱𝗲 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗮𝗻𝗱 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴: The AP solution can provide insights and reporting that help businesses to make better decisions about how to allocate resources and reduce their overall costs. By taking these steps, AP solutions can transform into powerful tools that help businesses to manage their spending more effectively.

On April 28, I was en route to Newark Airport when everything went sideways. A radar blackout hit EWR’s air traffic control. No comms. No visibility. Just cascading confusion. My flight was delayed, delayed, and canceled. Rebooked. Then the same thing happened. It was disorienting, frustrating… It reminded me of what procurement feels like when tariffs shift and you don’t have the systems in place to respond. Because in today’s environment — where a tariff can be changed overnight — the worst position to be in is not knowing: Where your goods are coming from; Which suppliers are exposed; What the landed cost impact is; or whether your contracts protect you. That’s why strong S2P solutions matter more than ever. Not just as systems of record, but as control towers for navigating uncertainty, volatility, and complexity. In a tariff-heightened economy, we need systems that provide: Granular visibility into goods by origin country, category, and supplier — so you can assess tariff exposure instantly Real-time insights into market shifts, commodity trends, and updated spend analysis — so decisions are informed, not delayed Collaboration capabilities built in — so you can renegotiate, adjust plans and deliveries, or realign sourcing strategies fast When the cost of inaction rises by the hour, visibility isn’t a luxury — it’s the first step to agility. We can’t stop disruption, but we can stop being caught off guard. #Procurement #S2P #Tariffs #SupplyChainVisibility #SourcingStrategy #SupplierCollaboration #SpendIntelligence #DigitalProcurement

💡 Insightful mapping from Joël Collin-Demers. It gave me plenty of food for thought! We built Payflows because Finance teams, especially in Procurement and Treasury, deserve better support. ERPs are foundational but fall short in connecting systems, leaving Finance teams to handle time-consuming manual work and reconciliation. ERPs are essential, yes, but when it comes to Procurement, layering with an S2P solution is a game-changer for streamlined processes and clear spend visibility and analytics. We’re committed to creating the best S2P/P2P experience, addressing ERP gaps by turning common weaknesses into our greatest strengths. Here’s how: ▶ Unmatched Usability: While traditional ERP modules or S2P tools can be challenging, we prioritize an amazing UX. We’re focused on a seamless experience for Procurement leaders and end-users alike, with intuitive Intake and Approval flows and integrated tools like Slack and CLM. Our AI-powered Copilot is also on hand to answer user questions and ensure ease of navigation. ▶ Flexible Customization: Every business has unique processes and procurement needs, so a one-size-fits-all approach isn’t enough. Payflows is designed for flexibility, letting teams tailor the platform to their specific models, flows, and categories, supporting their growth and strategic goals without limitations. ▶ Rapid Implementation: A global go-live in less than a month? We’re proud to make this possible, delivering real value to new customers faster and without extra integration costs. The quick deployment enhances satisfaction and accelerates ROI from day one. Let’s keep the conversation going—where do you stand in the S2P vs. Best of Breed debate? Would love to hear your thoughts!