Source-to-Pay Solutions
Streamline the process, control the costs. Today, corporate procurement leaders must find innovative ways to control spend and generate cost savings.
Our Source-To-Pay solutions control waste, manage suppliers, and further amplify efficiencies within your purchasing stream—tail spend is just the beginning. In order to optimize your procurement process, we customize our solutions and Digital Tools to fit your existing processes, organizational structure, and technology infrastructure.
We focus on your organization’s industry, operations, challenges, and overall global supplier network. Our sourcing solutions include supply chain diagnostics, procurement strategies, low-cost country sourcing, supplier capability assessments, risk management identification, price trends, forecasts, and project specific research.
The Corbus Advantage: Direct
Source-To-Pay Overview
Streamline the process, control the costs. Today, corporate procurement leaders must find innovative ways to control spend and generate cost savings.
Our goal is to provide a seamless process whether it’s requisition to Purchase Order (PO), delivery management and expediting, or Accounts Payable (AP) invoice processes. We focus on quality, cost, delivery, and compliance through Service Level Agreements (SLAs) and Key Performance Indicators (KPIs).
Our customized solutions manage your requisition, delivery, invoicing, transaction, and order-to-cash operations across regions and around the world. Our solutions control waste, manage suppliers, and further amplify efficiencies within your purchasing stream—tail end spend is just the beginning. We have maintained a number of long standing partnerships with procurement tools and technology providers in order to optimize your procurement process.
CASE STUDY: STREAMLINING THE SOURCE-TO-PAY PROCESS
By redesigning the S2P process, we shortened the requisition to PO cycle time.
Strategic Sourcing
We focus on your organization’s operations, industry, changes/challenges in the market, and overall global supplier network. Our sourcing solutions include supply chain diagnostics, procurement strategy, low-cost country sourcing, supplier capability assessments, supply risk management, sustainability strategies, price trends and forecasts, and project specific research.
Download our latest white paper, Enhancing Sustainability Through Supply Chain Transparency which highlights the benefits, challenges, best practices and performance gains associated with enhancing supply chain transparency in the pursuit of sustainability.
C-Parts Management
It goes without saying that screws, nuts, bolts, and washers are some of the most important components of crafting your final product. Due to the essential nature of the C-Parts, procurement costs can become very high. How well are you coordinating the demand of these items? For many organizations, this management can be tedious and overwhelming.
Our C-Parts management will maximum supply chain security for your C-Parts and reduce inventory levels.
We will source the parts you require at the right price, quality, quantity, and time, in the right form, and from the best supplier. We make decisions using fact-based analysis and market intelligence to achieve incredible savings for all our clients.
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The Corbus Advantage: Indirect
Category Management
Our immense category management expertise includes the following categories:
MRO
R&D
LEGAL
HRSS
ITSS
CONSULTING
FINANCE
FREIGHT & LOGISTICS
CONTINGENT LABOR
TRAVEL
PLANT SERVICES
With our global footprint, we have the ability to source all of your desired goods and services. We are committed to identifying cost saving opportunities and developing strategies to cluster and centralize similar goods into contracts that are easier to administer and offers increased savings to our clients. Beyond our ability to source the right goods and services, at the right price, quality, quantity, and time we are also adept at sourcing from some of the best suppliers around the globe.
Our suppliers receive exceptional onboarding instructions and they have access to our Corbus Supplier Portal (CSP) where we track, manage, and fulfill orders. We continually evaluate our terms and conditions as well as the quality of goods/services our client’s receive to ensure that our suppliers continually add value to the relationship.
CASE STUDY: DECREASING OPERATING COST WITH STRATEGIC PROCUREMENT
Efficient procurement management reduces product cost up to 10%.
Tail Spend Management
We help you identify unmanaged or wasteful spending while supporting your efforts of eliminating unnecessary costs. With our extensive industry knowledge, we know how to accurately evaluate your supply sources to bring you the best mix of quality, price, and regional availability. We help advance your tail end spend initiatives—which increases your savings, and offers enhanced compliance.
Our global footprint gives us expertise when it comes to vendor and supplier management. On your behalf, we manage the sourcing and procurement transactions for each of your vendors and suppliers. By effectively managing your supplier base we liberate your procurement team so that they can focus on more strategic activities.
Contract Management
We manage the entire contract life cycle. As a service combined with other Corbus offerings, or a stand alone service, we understand the strategic value contract management brings to your organization. We have been helping clients for years with contract authoring, negotiations, executions, amendments, renewals, and auditing. We manage each step for you.
Going even a step further with the creation of Contract Automation, Corbus’ Contract Automation looks through and compares purchase orders and invoices to see if you are actually receiving your contracted pricing. It will also notify you if you have reached a spend threshold that increases your discount. Utilizing our Domain, Data, and Digital expertise, Corbus will unlock the hidden value in your contracts.
Executive Professional Services
Many providers will offer indirect strategic sourcing services that covers categories such as office supplies, MRO, and janitorial services. Corbus covers all the basic services you’d expect from your supply chain management provider and so much more.
In an effort to offer a more complete and enjoyable service offering, we’ve expanded our service offerings to provide Executive Professional Services to our remarkable clients around the globe. When is the last time you reviewed and benchmarked your external or internal audit programs? How about a complete review and RFP concerning stock transfer agents, legal fees, banking fess, or ExpPat programs?
Corbus has the expertise, benchmark data, and digital capabilities to reduce cost variables while still maintaining the quality of our supplier relationships and devoting the amount of time to our clients that executive programs require.
Supplier Development – Assessments And Audits
Supplier development is the foundation of establishing long-term and prosperous relationships with suppliers. At Corbus, we ensure that our client’s resources are utilized wisely in the supplier pre-qualification process. With our strong domain expertise, in direct materials and our impressive digital emphasis, we generate supplier assessments and audits to enable our clients to make quick and well-informed decisions.
Corbus utilizes a methodical approach and framework to encompass supplier discovery, supplier qualification, RFx management and part qualification. The assessment includes an onsite audit to gauge the general and financial capability, technical and manufacturing capability, quality systems, and the overall capacity of the suppliers. Our research and analytics team also aids in secondary research to further identify the best suppliers and build an initial supplier profile before proceeding to the contract stage.
We also own RFx management. We engage in the First Article Inspection, continual purchases, and ensure the supplier is meeting client expectations by keeping track of KPIs through our Digital Tools that provide insightful metrics and reports.
Supplier Management – Performance And Risks
Supplier management is often undervalued. Ensuring that your organization has a robust performance and risk management program can unlock incremental value of your existing contracts and supplier base.
With our in-depth domain expertise in a variety of industries, and our ability to manage direct and indirect processes, we are highly experienced at tracking supplier performance. In addition to common delivery and quality KPIs, our clients can tap into the Corbus library of category specific KPIs to objectively assess the performance of their suppliers.
Supplier management is never complete unless supplier performance is tied directly to the overall risk that the supplier carries. Our impressive and comprehensive risk assessment framework provides a 360 view of the financial and operational stability of each supplier. The framework utilized enables our clients to integrate other third party risk ratings into the equation so that a comprehensive risk rating is discovered.
Spend Reporting And Visibility
Spend reporting and visibility is essential in monitoring and optimizing the downstream activity of Source-To-Pay operations. As data and digital experts, we know this process has high potential for digitization and automation. Especially, in the shared services sector.
Our dedicated data analysts, working on AP data or PO data, will deliver action oriented insights to our clients so that they can holistically evaluate their sourcing functions and provide visibility on important spend and compliance metrics.
We are adept at extraction, cleansing, and categorizing data per relevant schema. We deliver spend reporting KPIs ranging from compliance metrics such as afterfact purchases to opportunity identification.
CASE STUDY: OPTIMIZING CAR RENTAL SOURCING
Spend analysis helps build a 20% annual savings.
Spend Analytics – Payables And Data Insights
Corbus supports your entire analytics process by collecting, cleansing, collating, classifying, and enriching data to identify category specific opportunities. We identify, develop, and implement leading process improvements to reduce costs throughout your supply chain.
Our Source-To-Pay analytics framework integrates spend analytics to leverage and derive action-oriented insights such as supplier consolidation opportunities and contract negotiation potential.