A Better Procure-to-Pay Solution: Hear from SourceDay and Medius CEOs
Tom Kieley, CEO of SourceDay, and Jim Lucier, CEO of Medius, talk in-depth about the transformative benefits of our strategic partnership explicitly tailored for manufacturers and distributors.
This partnership combines the best of SourceDay’s PO lifecycle management and supplier collaboration solutions and Medius’ advanced invoice management solutions, setting new standards for operational efficiency in the industry.
Why This Partnership Matters to You
Our combined expertise addresses the unique challenges faced by discrete manufacturers and distributors. We offer solutions for the most pressing needs:
- Challenges in Visibility and Control: Lacking comprehensive visibility throughout the procurement cycle—from initiating purchase orders (PO) to final payments—often hampers teams from executing data-driven, timely decisions. This can result in operational disruptions such as stockouts, production halts, or unnecessary accumulation of inventory.
- Manual Process Inefficiencies: Engaging in labor-intensive tasks such as confirming POs and obtaining timely updates can introduce errors and inefficiencies. These inefficiencies frequently culminate in delivery delays from suppliers, leading to missed customer deadlines, invoice discrepancies, and financial errors, all of which can be expensive and time-consuming to rectify.
- Impact of Delayed Supplier Payments: Late payments can severely strain supplier relationships, which might result in holds on accounts payable, potentially halting operations across the board.
Tom and Jim highlight the critical role that seamless integration between procurement and finance plays in achieving not just operational efficiencies but also in driving growth and stability for businesses in manufacturing and distribution.
Ready to See More?
Fill out the form below and pick a time that works to talk with our team. It’s time to see a procure-to-pay process that was built for your business.