SOURCE-TO-CONTRACT
Speed up sourcing and capture more savings
A better procure-to-pay process starts with smarter sourcing. Identify savings opportunities, request bids, evaluate responses with stakeholders, create contracts, and onboard suppliers all from one place.
Key benefits
Accelerate your sourcing impact
Easily run routine and complex sourcing events to get to market quickly. Give your suppliers the flexibility to make their best offers and collaborate with stakeholders to make the best decisions.
Hit on-contract spending goals
Leverage AI to automate contract creation steps and provide greater visibility into key clauses. Automatically pass new contracts into the purchasing process to maximize savings and compliance.
Minimize risk while maximizing your time
An easy-to-use supplier portal onboards new suppliers quickly, while AI slashes the time it takes to vet and monitor the performance of your supplier base with internal and outside data sources.
Capabilities
“Immediate benefits of Coupa was one entry point for users to source, contract, purchase, and manage suppliers from one common interface.”
See for yourself
Contact our team for a personalized demo of the Coupa platform.
Request now Watch a demoFAQ
Is source-to-contract the same as procurement?
Source-to-contract — which focuses specifically on the activities involved in finding suppliers, gathering bids, and managing contracts — is a subset of the overall procurement process. When a company’s source-to-contract processes are optimized, it creates an effective procurement function.
Procurement, on the other hand, encompasses all activities related to the buying of goods and services for the company. It doesn’t just include sourcing, but also strategic decision-making in managing supplier relationships, optimizing the entire supply chain, driving cost savings, improving invoicing, and meeting environmental, social, and governance (ESG) goals.
You can think of source-to-contract as the strategic upstream of procurement processes. When done right, it creates value downstream for procurement.
What event types are available in Coupa’s sourcing?
Coupa offers four types of sourcing events: RFx events, English reverse auctions, Dutch reverse auctions and Japanese auctions.
RFx events include a request for information (RFI), a request for quote (RFQ), and a request for proposal (RFP). RFx events are ideal for simple and complex procurement but are most often used for strategic or high-value procurement.
English reverse auctions typically have one buyer and many sellers. Sellers (or suppliers) place bids and force others to drive down their prices. The seller with the lowest bid at the end of the auction is marked as the winner.
Dutch reverse auctions are controlled by the buyer, who sets a low price and continues to increase the price by a set amount until a supplier accepts it. The auction occurs within a specific time interval.
Coupa's Japanese auctions allow organizations to drive competition by starting the auction at a price higher than the expected buying price and periodically lower it. With every decrease, suppliers need to accept the new price until there is only one supplier left accepting the price.
