In a globalized and ever-changing environment, efficient and agile management of relationships with the suppliers your company works with is becoming increasingly important. In this way, the company’s purchasing department will be able to take advantage of the best opportunities offered by the sector and the entity will be able to improve its competitiveness in the market by offering its products and services, optimizing margins and improving its relationship with its customers.
Fullstep as a Source to Pay (S2P) platform
With more than 20 years of experience, Fullstep is positioned as a key partner in the purchasing process. It generates possibilities for the development and professional growth of the companies with which it works from its purchasing function, through the digitalization of processes and the optimization of resources, all seeking a positive impact on the environment.
Specializing in the Source to Pay (S2P) process, a procurement process that encompasses sourcing, negotiation, contracting and payment of suppliers, they have developed a digital platform for this purpose.
It is a collaborative platform dedicated to the digitization, automation and end-to-end control of the entire purchasing cycle, optimizing cost management and supplier relations. As a SaaS platform, cloud-based, easy to implement and accessible from any device, it is a very attractive resource for companies to optimize the management of the relationship with their suppliers in an efficient and productive way to reduce costs.
Fullstep modules
Fullstep’s S2P digital platform has 4 structured modules to achieve its objective, which are:
- SRM (Supplier Relationship Management): registration, classification, approval, evaluation and control of suppliers.
- S2C (Source To Contract): integral management of negotiations and supplier contracts.
- P2P (Procure To Pay): management of orders and invoices.
- BI (Business Intelligence): tool for the analysis and reporting of the activity.
Advantages of Fullstep’s vendor management system
Fullstep’s S2P digital platform has a Supplier Portal, which is the entry and communication channel with suppliers who are going to register on the platform or who are already working on it. This is the starting point for establishing lasting, stable and favorable relationships through the system’s resources..
Thanks to the SRM (Supplier Relationship Management) platform module, customers using the platform can control the supplier base by registering, classifying, approving, evaluating and controlling each supplier. They have the flexibility to request information and documentation from suppliers, managing this documentation in a semi-automated way. Through this solution, the user customer achieves a 35% time saving in the management of documentation related to suppliers, thus significantly reducing the administrative costs related to this process.
In addition to the above, the client user of the platform has the S2C (Source To Contract) solution, which is the next step in the process. This module digitizes the integral management of bidding, negotiation and contracting with suppliers. The selection of suppliers with whom to enter into contracts is carried out through negotiation rounds, setting target prices and cost scandals through the platform. Thanks to this process in the platform, savings in operating costs related to this function are also achieved, significantly speeding up the process and requiring fewer resources to perform these tasks.
By means of the two previous solutions, thanks to the competition among suppliers participants in the platform, customers and users get a savings of between 4% and 5% on contracting conditions with suppliers, which is an important significant reduction in expenditure in each of the contracts that are established, taking into account the number of contracts that are made through Fullstep’s S2P digital platform.
More than 1,800 buyers and 15,000 suppliers from a large number of companies use its systems on a daily basis. If you are also interested in enjoying all the advantages of Fullstep’s S2P digital platform, we will be happy to help you. Do not hesitate to contact us and our consultants will be able to guide you on the best way to implement it in your company.
