Centralize the multitude of the procure to pay process silo with Procure-to-pay automation solution. From requirement planning to payment planning, order placement to invoice processing, plentiful procure to pay process can be automated at the touch of a button.
Automated requisitioning systems allow users to create purchase requests quickly using pre-defined templates and catalogs. Automated workflows enforce compliance with procurement policies, ensuring that all requests are valid and within budget.
Automated approval workflows expedite the purchasing process, reducing delays and setbacks. Assures that all the POs are created using the company’s set templates and approved guidelines so that standards are followed.
A timely confirmation of delivery also includes acknowledgment of POs and thus minimizing any chances of mistakes. Timely updates regarding the orders and the inventory levels are sent to all parties concerned and speed up the process.
OCR scanning enables capturing of data from invoice documents to reduce the manual data entry process. Automation of the three-way matching ensures that Invoices that have been paid out do not have any POs outstanding invoices and packed boxes.
Automated payment systems can schedule and execute payments, reducing late fees and taking advantage of early payment discounts. Automation maintains a clear audit trail for all transactions, improving compliance and making it easier to resolve disputes.
Employers are assured that all the suppliers’ information is kept in one place hence avoiding any difficulties in searching for information. Continuous monitoring of supplier performance through automated systems helps in assessing quality, delivery times, and compliance with contracts.
Data collecting and processing systems centralizing all processes of the P2P cycle giving a clear picture. Users are able to generate reports that can be useful for understanding how much was spent, the efficiency of suppliers and their performance, and how effective the processes are.
CEOs could regain 20% of time employing automation for financial tasks.
Businesses can save atleast one per day by automating invoice capture.
76% of CFOs surveyed cited digitization of finance processes as a key factor in their success.
An employee needs to purchase office supplies.
The employee submits a digital requisition that automatically routes through the approval workflow, reducing delays and ensuring compliance with spending policies.
A requisition is approved, and a purchase order needs to be created.
Once approved, the system automatically generates a purchase order, ensuring accuracy and consistency without manual entry.
A vendor submits an invoice for goods delivered.
The system uses OCR to extract invoice data and automatically matches it with the corresponding purchase order and receipt, flagging discrepancies for review.
An invoice is ready for payment.
The system schedules payments based on due dates and payment terms, automatically routing invoices for approval and ensuring timely payments.
A vendor submits an invoice for goods delivered.
The system uses OCR to extract invoice data and automatically matches it with the corresponding purchase order and receipt, flagging discrepancies for review.
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