Navigating the procure-to-pay landscape can be complex, with discrete manufacturers and distributors often facing numerous challenges that can impede efficiency and hamper growth. Recognizing these pain points, SourceDay, the leading provider of PO Lifecycle Management solutions, and Medius, the leading provider of automated accounts payable (AP) solutions, have partnered to offer tailored solutions that directly address the critical needs of businesses today.  

SourceDay’s focus on real-time procurement data, ERP data accuracy, and management by risk, coupled with Medius’ focus on highly scalable AP automation, creates seamless materials and payment flows and eliminates the manual work and errors that have traditionally bogged down P2P processes.

Direct Solutions for Pressing Needs

Our partnership is built on a deep understanding of the practical and pressing needs in supply chain and the AP processes. By combining our strengths, we offer a streamlined set of solutions that specifically target:

• Visibility and Control Gaps: Without clear insights into every stage, from purchase order (PO) creation to payment, teams struggle to make informed, data-driven decisions, leading to stockouts, line shutdowns, or excess safety stock.

• Inefficient Manual Processes: Time-consuming manual tasks like chasing down PO acknowledgments and updates are prone to errors, leading to missed delivery deadlines from the supplier and to the customer, mismatched invoices, and financial discrepancies that can be costly to resolve.

• Delayed Supplier Payments: Directly impacts supplier relationships and often leads to AP holds, potentially disrupting all operations.

Tangible Benefits for Your Business

The combination of Medius’ advanced invoice automation with SourceDay’s deep integration PO lifecycle management solutions provides several key benefits:

• Reduced operational costs: Streamlining the repetitive tasks of PO acknowledgments, chasing PO line updates, and manually matching invoices significantly reduces the need for manual intervention, giving teams as many as 3 hours back every day for more strategic focus.

• Increased On-Time Delivery (OTD): SourceDay enhances supplier reliability and coordination by providing real-time updates and alerts to both buyers and suppliers. This ensures that any discrepancies or delays are quickly identified and addressed before they impact the production schedule. With SourceDay’s dedicated supplier collaboration tools, we are able to drive supplier OTD rates up to 96% OTD. This level of reliability boosts customer satisfaction and stabilizes revenue recognition by ensuring that goods and services are received and invoices as planned.

• Improved Financial Accuracy: Advanced matching algorithms ensure unbeatable first-pass match rates, as high as 99.7% for PO-backed invoices, significantly reducing the time and cost associated with correcting errors.

Targeted to Your Needs

SourceDay and Medius solutions are designed with discrete manufacturers and distributors in mind, offering:

• Scalability: Adapt to your growing needs without having to add headcount

• Compliance and Security: Advanced features ensure compliance with industry regulations and enhanced security against fraud.

• Real-Time Analytics: Immediate insights into supply chain data help you stay ahead of market changes and potential supplier disruptions and manage your resources more confidently and effectively.

Let’s talk

Contact us today to learn more about how SourceDay and Medius together can transform your procure-to-pay processes to a business advantage.