Wax Digital Unveils iS2P - a Single Approach to Procurement

United KIngdom , January 20, 2016 (Newswire.com) - ​eProcurement specialist Wax Digital has unveiled its roadmap for the future of electronic procurement with iS2P (Integrated Source to Pay). One platform for both sourcing and purchasing, iS2P also provides full integration with finance and other legacy systems and enables real-time visibility on spend.

Aligning its product roadmap with market demand for a single approach to procurement, iS2P brings together Wax Digital’s integrated suite of procurement modules - web3 Source to Contract; web3 Purchase to Pay; web3 Connect; and web3 Analytics.

"With integrated working at the heart of business success, today's procurement professionals need a holistic view of their organisation's purchasing and related processes."

Daniel Ball, Director, Wax Digital

Through the seamless integration of its suite of spend management modules, iS2P offers a holistic view of all purchasing and related processes and enables:

·         Total visibility – Data flows between purchasing processes giving users a clear view on organisation-wide spending

·         Better supplier management – From initial tender and on-boarding through to matched invoices, it provides a joined up view of all supplier activity

·         Improved compliance – Encourages best practice throughout the procurement lifecycle

·         Full audit – Integrated reporting functionality offers a comprehensive end-to-end audit of the entire purchasing process

·         Coherent analytics – A consolidated view of spend data, freeing up time for analysis.

web3 iS2P also benefits from a built-in, easy to use integration platform that allows procurement processes to be fully harmonised with other business software such as leading finance and ERP platforms.

Daniel Ball, director, Wax Digital said: “With integrated working at the heart of business success, today’s procurement professionals need a holistic view of their organisation’s purchasing and related processes.

“Built from the ground up on a single code base, our web3 suite of procurement modules easily facilitate end-to-end integrated Source to Pay. By removing the gaps and bottlenecks in the sourcing and purchasing chain and expediting connections with other key systems in the process, iS2P enables faster, more well-informed, confident business decisions from one easy to use cloud-based platform.”

The core modules within Wax Digital web3 iS2P are:

web3 Source to Contract - a comprehensive platform for eTenders, eAuctions, Contract Management, Savings tracking, SRM and SIM.

web3 Purchase to Pay – delivers control, compliance and visibility across the purchasing process via an easy-to-use web interface.

web3 Connect – unique in the eProcurement world, offering unrivalled integration capabilities with back-office systems and real-time integration performance visibility.

web3 Analytics – provides powerful reporting and analysis capabilities, giving stakeholders across the organisation instant access to endlessly configurable dashboards and management information.

About Wax Digital

Wax Digital delivers integrated Source-to-Pay solutions to savings-focused organisations around the world.

Its intuitive web3 software is deployed via the cloud to 260,000 users in over 100 countries, carrying tens of millions of transactions efficiently and securely every year.

Seamlessly integrated with back-office systems, suppliers and third-party data points, web3 provides an end-to-end spend management capability, bringing control, compliance and cost savings to the purchasing lifecycle.