Managed Services

Source-to-Pay Outsourcing Services

Digitally Transform Your Source-to-Pay Organization To Realize Tangible Benefits

Executive Boards, CEO’s and CFO’s realize they must digitally transform their organization to ensure growth and survival. New technologies, business models and ideas are emerging at an incredibly fast rate.  Competition can come from the most unlikely of places, and companies need to be prepared to quickly respond to new competitive threats.  Revisiting existing models and operations, mobilizes organizations for agility and the creation of their own disruptive ideas.

The supply chain is one of the key areas requiring this transformation as it is a critical enabler of agility and innovation. It is also a key driver in the financial health of an organization.

To digitally transform an organizations source-to-pay process it must develop a comprehensive strategy* that is not solely focused on technology. The strategy must address all of the stakeholders involved, fix or eliminate processes that are inefficient or not working and apply technology as an enabler. 

*The 2015 Digital Business Global Executive Study and Research Project by MIT Sloan Management Review identifies strategy as the key driver in the digital transformation process.

Canon Can Help You To Overcome Your Source-To-Pay Challenges

CFO’s have been facing challenges with their source-to-pay transformation strategies. These often fall into three categories. People, process and technology. 

People: This includes retention, experience, scalability, training, costs, managerial overhead, human resource issues (such as high turnover, maintaining optimum staffing levels, etc), and/or outdated practices and skills.
Process: Typically the process is manual, slow, inefficient, costly, not measurable, repeatable or auditable.
Technology: You may have legacy, disparate systems and lack the IT budget, resources and/or expertise.

Canon Is Your End-to-End Source-to-Pay Outsourcing Solution

The Canon Source-to-Pay delivery model enables a scalable infrastructure for growth that includes: designing new workflow processes; enabling a greater level of visibility into spend; instituting a governance model; providing flexible teams that can be located onsite, offsite and/or offshore; managing your workforce and implementing state-of-the-art, best-in-class technology. 

A Holistic Source-to-Pay Approach Delivers Sustainable Results

Canon’s holistic approach starts with an analysis of your current staffing, processes and technologies to determine what is necessary to achieve your transformation goals.

Our analysis provides our clients with a breakdown of areas to improve and solutions for the people, process and technology challenges. Canon’s source-to-pay outsourcing delivers immediate impact through operational improvements while helping create and deliver on a roadmap for the digital transformation journey.

Canon offers a comprehensive set of services including:

  • Outsourcing for all or part of your sourcing, procurement and accounts payable process
  • Six sigma and lean based process analysis and redesign
  • Technology efficacy analysis
  • Source-to-Pay automation tools
  • Dynamic discount program management
  • Supplier information and risk management
  • Supplier network onboarding

Organizations that have successfully transformed their source-to-pay process have realized these benefits:

  • Reduction in Source-to-Pay cycle times
  • New discounts in addressable spend
  • Improved supply chain health
  • Reduction in processing costs
  • Increased spend under management

Market Leading Technology, Our Partnership with Tradeshift

The Canon Source-to-Pay Service leverages our partnership with Tradeshift, the world's largest business commerce platform. The partnership is designed to help FORTUNE 1000 companies take greater control over their source-to-pay process and reach the highest levels of performance.

An Optimized Accounts Payable Operation Provides Clear Benefits

The Canon Source-to-Pay Outsourcing service includes effective accounts payable processing that is essential for every organization. With Canon, you can achieve significantly elevated AP outsourcing performance by effectively using the right mix of people, optimized processes and technology. Among the key benefits are:

  • Significant decrease in total accounts payable outsourcing cost
  • Process improvement through centralization, standardization and automation
  • Elimination of manual data entry and paper invoices in many cases
  • Access to efficient, lower cost shared service centers and automation
  • Complete end-to-end visibility of the process
  • Lower risk and stronger internal controls and compliance
  • Improved operational performance
  • Short cycle-time—invoices are available to pay before pay due date
  • Capture available discounts, eliminate late fees
  • Reduce calls from suppliers and improve supplier relationships
  • Higher payment accuracy, lower error rates, reduce risk of fraud
  • Reduce audit findings
Success Stories
Accounts payable gets a makeover
A company can get overwhelmed by invoices when it processes each one manually. Our client, the US unit of a global, multibillion-dollar cosmetics and beauty company, faced this dilemma and more: It had 1,500 invoices to manually process each day.

See How Our Business Process Outsourcing Services Can Improve Accounts Payable Efficiency

Ready to Advance Your Business?