Source-to-Pay to drive strategic and sustainable growth
Break free from disconnected systems, unify procurement, sourcing, and payments for total efficiency and compliance.
Source-to-pay platform that industry leaders count on
The intelligent source to pay software that unifies complex procurement process
From sourcing to final payment, our S2P software streamlines the entire process to drive visibility and results for procurement and finance teams.
Sourcing and eAuction
Find, select, and negotiate with the right suppliers, every time.
- AI-powered RFQ automation
- Reverse & forward auctions for competitive pricing
- Supplier bid scoring & recommendations
- Intuitive intake-to-award process
Contract Management
Simplify contracting to mitigate financial risks and ensure compliance.
- Contract repository to store all your contracts in one place
- Automated contract renewals and tracking
- Approval workflows to reduce bottlenecks
- Risk & compliance monitoring
Procurement
Automate PR to PO conversion and order processing.
- PR to PO automation with instant approvals
- Catalog-based buying
- Dynamic approval workflows
- Real-time supplier collaboration
Payments
Effortless payments for stronger vendor relationships
- Invoice processing and payment reconciliation
- Automatic 2 and 3-way invoice matching
- Real-time payment visibility for vendors
- Fraud detection and audit trail tracking
Vendor Management
End-to-end supplier lifecycle management.
- Digital onboarding with automated due diligence
- Performance tracking and supplier scoring
- AI-powered risk assessment with continuous monitoring
- Centralized supplier database
Spend Analytics
Unlock savings with real-time spend insights
- Real-time spend visibility & trend analysis
- AI-driven cost-saving recommendations
- Benchmarking against industry peers
- Custom dashboards & reports
Unified manufacturing purchasing software built for efficiency
Procol gives you the right tools to streamline procurement, automate the PR-to-PO process, and gain control over indirect spend, without changing how your teams work.
Smart Sourcing
Seamlessly handle PR splitting, Collation and assigning with our PR management system on our procurement platform.
- Strategic sourcing
- Multi-round and multi-stage sourcing
- Global sourcing
- Custom templates
Smart Sourcing
Seamlessly handle PR splitting, Collation and assigning with our PR management system on our procurement platform.
- Strategic sourcing
- Multi-round and multi-stage sourcing
- Global sourcing
- Custom templates
Smart Sourcing
Seamlessly handle PR splitting, Collation and assigning with our PR management system on our procurement platform.
- Strategic sourcing
- Multi-round and multi-stage sourcing
- Global sourcing
- Custom templates
Smart Sourcing
Seamlessly handle PR splitting, Collation and assigning with our PR management system on our procurement platform.
- Strategic sourcing
- Multi-round and multi-stage sourcing
- Global sourcing
- Custom templates
Smart Sourcing
Seamlessly handle PR splitting, Collation and assigning with our PR management system on our procurement platform.
- Strategic sourcing
- Multi-round and multi-stage sourcing
- Global sourcing
- Custom templates
How Procol elevates your S2P process to the next level
Automate sourcing, optimize supplier management, and track spending—all in one S2P platform that integrates seamlessly with your ERP.
RFx and eAuctions
Streamline the procurement process through our digital platform, enhancing transparency and efficiency.
- AI-powered RFQ automation
- Reverse & forward auctions for competitive pricing
- Automatic PR to PO conversion
Contract Management
Automate contract lifecycle processes to maintain compliance and reduce manual errors.
- Contract repository to store all your contracts
- Automated contract renewals and tracking
- Approval workflows to reduce bottlenecks
Supplier scoring & analysis
Effectively oversee supplier relationships to ensure quality, compliance, and performance.
- Automatic digital supplier onboarding
- Centralized supplier database
- Regular performance monitoring with key metrics
Spend Analysis
Gain deep insights into your organization’s spending patterns to optimize procurement strategies.
- Detailed expenditure tracking across all departments
- Customizable dashboards for real-time data visualization
- Predictive analytics for future forecasting
Why choose Procol's strategic sourcing suite over traditional sourcing?
Procol’s strategic sourcing suite saves costs and reduces risks through procurement automation, real-time insights, and supplier negotiations.
Spend management
Supplier relationships
Productivity & efficiency
Risk management
Decision making
Procol's Strategic Sourcing
Traditional Sourcing
Source to pay software: Trusted by leaders, Loved by customers
Our source to pay software helps customers win and drive meaningful impact
Recognized as a leader in Source-to-Pay software
Enterprise-grade security for procurement teams
Featured in leading publications
FAQs about source-to-pay software
Everything you should know about source-to-pay software
What is meant by source-to-pay?
Source to pay, abbreviated as s2p, is a process followed by most businesses to fulfil their procurement needs. The source to pay process begins with identifying the needs for specific goods within a department of the company and ends with paying the supplier from whom the requirement is procured or obtained. Hence, s2p meaning is simply the procurement of goods and materials as per your company’s needs.
What is the difference between S2P and P2P?
While source to pay refers to the process of procuring goods and materials for the business, procure-to-pay is a subset of the s2p process. This means procure to pay deals more with just the purchasing process i.e. invoicing, raising PO, three-way matching. Whereas, source to pay is a holistic process that includes the entire process from identifying needs for a certain material to procuring it from the vendor and then paying the vendor.
What is the difference between source to settle and source-to-pay?
While source to settle process focuses more on the settlement process or final payment stage only, source to pay focuses on the entire procurement lifecycle. The S2P process is usually done on a source to pay software, which automates the entire process into simple steps. It makes the process more efficient as it brings all stages to one unified solution.
How does S2P work?
Most companies use a source to pay solution or an s2p software to conduct the entire process. Source to pay is an exhaustive process that includes various stages such as demand identification, supplier identification to fulfil demand, contract negotiation, PO creation and finally receiving goods and making payments to the supplier. Using source to pay systems helps businesses automate and streamline their goods procurement process so they can be efficient.
What is an example of source-to-pay?
An easy-to-understand example of a source to pay could be a manufacturer identifying the need for a certain raw material to build a printing machine, then looking for the right suppliers who can provide the raw material, developing and finalizing contracts to agree on terms of work. This is followed by the creation of a PO and receiving the raw material from the supplier. The manufacturers finally make payment to the supplier.
What are the steps in S2P?
The steps followed in the s2p process while using a source to pay platform include identification of a need, strategic sourcing of suppliers, negotiation of contract, creation of purchase order, and receiving the goods. There is one step of final payment processing that comes after the company has received the goods from the supplier. Source to pay tools help in conducting this comprehensive process end to end without any errors and with minimal human intervention.
Why is source-to-pay important?
S2P procurement is important to businesses as it helps automate and streamline the procurement process while making it efficient. It helps in automating manual tasks thus reducing errors. Most S2P platforms usually help in ensuring compliance with regulatory standards so the finance process of procurement is in check. Hence, S2P using a source to pay procurement software is the ideal way to structure and organize your procurement process.
What are the best source to pay solutions?
Some of the best source to pay solutions are Procol, Coupa, and Proactis. Procol helps you make your S2P process efficient, optimized, and error-free. It reduces your turnaround time for vendor payments, thus enhancing your business’ vendor relations. Other alternatives like Ivalua, Zip, and Medium also help in managing the source to pay process in one common platform.
