Source-to-pay is the broad procurement lifecycle connecting demand and sourcing through approval, award, contracting or order execution, receipt, invoice, and payment or reconciliation handoffs. VendrNova expresses the operating thread as Request, Source, Approve, Award, Execute, Receive, Invoice, and Reconcile. The ERP remains authoritative for agreed financial records and postings.
In plain English
It connects the full journey from a business need and supplier decision through invoice and financial handoffs.
Illustrative example
At Northstar Industrial Systems, a production-service need moves through the eight-stage lifecycle with one evidence trail and customer-specific ERP exchanges.
- Related terms
- Intake-to-procure; Procure-to-pay; Source-to-contract; Procurement orchestration
- Lifecycle stages
- Request; Source; Approve; Award; Execute; Receive; Invoice; Reconcile
- Stakeholders
- All stakeholders