Source to Settle
Source to Settle consists of requisitioning, purchasing, book-keeping and payment of vendor service/goods invoices. The cycle starts with purchase order creation, continues with receiving goods/services, and ends with proceeding payment of invoices. Throughout the entire process there can be touchpoints with Vendor Master Data Management, which also resides within our function.
Source to Settle is a process area that encompasses requisitioning, purchasing, invoice processing, and payment of vendor services/goods. The cycle begins with creating purchase orders, receiving goods/services, and concludes with invoice payment. Vendor Master Data Management is involved throughout the process. Our focus is on ensuring accurate and timely invoice handling, system integration, and providing effective support for sourcing professionals and requisitioners. We resolve inquiries from vendors, customers, and local markets and provide administrative support to Procurement. We oversee vendor creation and changes, database cleansing, reporting, compliance checks, and are part of many process improvement projects. Our expertise minimizes reliance on technical support teams and enhances business relationships through seamless delivery.