Source-to-Pay Audit (SPA)
Analyzing sourcing, purchasing and Accounts Payable (AP)
Organizations everywhere understand the value of working efficiently. You are expected to be the best stewards of both your financial and human resources. Analyzing your source-to-pay processes is a great way to show accountability and identify areas for improvement.
It’s difficult to self-assess, so why not take advantage of a SpendBridge Source-to-Pay Audit (SPA)? We not only identify gaps in your existing functions, but we also help you build a plan to close those gaps using best-in-class benchmarks. We think you’ll be surprised and pleased at the quality of information our SPA provides.
How does the SPA work?
SpendBridge analyzes your three primary functions of source-to-pay to answer key questions:
- Sourcing – How do you find, negotiate, and establish vendor relationships?
- Procurement – Does your staff know where to get the best pricing? How automated is the process? Are you using your federal funds appropriately in the workflow meeting or delegation of authority? Is it easy to audit?
- Paying – Can AP implement straight-through processing for invoices, or do you require staff? Can you streamline and automate AP? Are you complying with state requirements? Can you easily identify AP fraud?
We interview stakeholders and customers of your business processes, i.e., those staff who rely on the timely receipt of goods and services. We also observe how the processes are completed. And finally, we survey those stakeholders and compile a report of the findings.
Why is the SpendBridge SPA so important?
To get your SPA scheduled, please contact Charles Wright at Charles.Wright@SpendBridge.com.