Source-to-Pay Outsourcing Services
Digitally transform your source-to-pay organization to realize tangible benefits.
A Holistic Source-to-Pay Approach Delivers Sustainable Results
Executive boards, CEOs and CFOs 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 its source-to-pay process, an organization must develop a comprehensive sourcing 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.
See How Canon Can Help Your Business Transformation and Your Source-To-Pay Process
CFOs have been facing challenges with their source-to-pay transformation strategies. The human capital challenge 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managerial overhead, human resource issues (such as high turnover, maintaining optimum staffing levels, etc.), and/or outdated practices and skills. We assess the current process and typically find the current process is manual, slow, inefficient, costly and, not measurable, repeatable or auditable. Finally the technology may need to be upgraded. Many companies are dealing with legacy, disparate systems and lack the IT budget, resources and/or expertise. The Canon Source-to-Pay solution customizes an optimized solution to meet your business needs.
Transform Your Strategic Sourcing, Procurement and Accounts Payable Organizations to Gain Agility and Reduce Costs
The Canon source-to-pay outsourcing service includes a flexible sourcing-through-procurement offering that can be tailored to fit your requirements. Whether you just need assistance with managing the request for information, proposal and/or quote (RFx) process, contract management or upstream procurement execution, our team of experts can help you optimize your performance with the right combination of talented people, streamlined processes and technology.
Our capabilities include: supplier and category management, data collection and spend analysis, RFx and bid collection, catalog management; day-to-day procurement operations, and long tail spend management. A holistic approach to your source-to-pay processes can realize measurable improvements, including: Improved operational performance, significantly reduced processing costs, increased spend under management/contract compliance, and less maverick spend.
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 four categories: people, process, technology and analytics.
- 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 and not measurable, repeatable or auditable.
- Technology: You may have legacy, disparate systems and lack the IT budget, resources and/or expertise.
- Analytics: Increase visibility and analysis on overall spend to uncover inconsistencies and opportunities for savings.
Transform Your Source-to-Pay Processes to Advance Your Business
We start with analysis of your current staffing, processes and technologies to determine what is necessary to achieve your transformation goals. Once complete, you receive a breakdown of areas to improve and solutions for the people, process, technology and analytics challenges. Canon’s Source-to-Pay Outsourcing delivers immediate impact through operational improvements while helping create and deliver on a roadmap for the procurement 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; and supplier network onboarding. Organizations that have successfully transformed their source-to-pay process have realized a reduction in source-to-pay cycle times, new discounts in addressable spend, improved supply chain health, a reduction in processing costs and increased spend management controls.