Source-to-contract refers to the numerous processes through which B2B procurement professionals analyze and optimize their operations to generate more value for the organization. By taking a deep dive into strategic sourcing and procurement activities, they can mitigate risks involving suppliers and maximize their spend management. Because so much goes into the upstream sourcing process, it can be extremely challenging to keep tabs on every single aspect. This is where Corcentric’s purpose-built solution comes into play.

Corcentric Source-to-Contract, or S2C, provides the complete spectrum of related upstream procurement processes required to optimize searching and finding just the right products and services your organization needs by choosing the right suppliers. These include analytics, sourcing, supplier management, and contract management. Corcentric S2C starts with a needs analysis of your particular products or services based on historical category spend for assessing savings and compliance opportunities.

Also referred to as strategic sourcing, our source-to-contract solutions examine the supplier base available within a spend category, implementing a sourcing strategy that includes negotiations, RFx, or reverse auctions, creating contracts with key suppliers, and enabling supplier performance and risk monitoring.

Solid source-to-contract software and services from Corcentric gives your teams a holistic view of spend, suppliers, and contracts to ensure compliance, manage spend, and build relationships that maximize S2P procurement’s performance.