Automating your source-to-pay process makes your organization more productive. It offers the energy industry an opportunity to automate low-value tasks to improve efficiency and reduce costs.
Manual procurement processes are hamstrung by human errors, zero spend visibility, manual approvals, duplicate payments, and siloed processes that lead to inefficiencies, high risk and maverick purchasing. The primary aim of automating the S2P cycle is to build value by creating an efficient supply chain.
Energy investors demand operators generate more free cash flow internally to finance their growth strategies.
Using best practices to improve cost control and operating efficiency is a realistic way to free up funds to invest back into a company—when done correctly.
Read this guide for best practices to digitalize your entire source-to-pay process to improve operating efficiency and cost savings.
Enverus Source-To-Pay provides a complete end-to-end solution from sourcing to payment on a single platform, connected to the largest network of buyers and suppliers in the industry.
Transacting on a connected platform allows for collaboration between supply chain, operations and accounting and finance, provides access to valuable spend insights and reporting for strategic sourcing and improved cost management, increases process speed and efficiency with automation and reduces G&A and IT maintenance costs.