Procure-to-Pay (P2P)

Boost and enhance efficiency and effectiveness and improve accuracy and timeliness in managing invoices, processing, reporting, and analysing.

Requisition Management:

  • Streamline the creation and approval of purchase requisitions.
  • Define workflows for requisition approval based on predefined rules.

Supplier Management:

  • Maintain a centralized database of approved suppliers.
  • Evaluate and onboard new suppliers through a standardized process.

Catalog Management:

  • Create and manage catalogs of approved products and services.
  • Ensure compliance with negotiated contracts and pricing agreements.

Purchase Order (PO) Generation:

  • Generate purchase orders automatically upon requisition approval.
  • Include details such as quantity, pricing, and delivery information.

Approval Workflow:

  • Implement configurable approval workflows for purchase orders.
  • Ensure proper authorization before procurement transactions proceed.

Receipt and Inspection:

  • Enable the receipt of goods or services against purchase orders.
  • Facilitate inspection processes to ensure quality and compliance.

Invoice Processing:

  • Automate the entry and processing of supplier invoices.
  • Match invoices to corresponding purchase orders and receipts.

Three-Way Matching:

  • Verify that the purchase order, receipt, and invoice details align.
  • Resolve discrepancies and exceptions through automated workflows.

Budget Control:

  • Monitor and enforce budgetary constraints during the procurement process.
  • Provide real-time visibility into budget availability.

Payment Processing:

  • Automate payment processing based on approved invoices.
  • Support multiple payment methods, including electronic transfers and checks.

Vendor Performance Management:

  • Track and evaluate supplier performance over time.
  • Use data to inform future purchasing decisions and negotiations.

Integration with ERP and Accounting Systems:

  • Integrate seamlessly with your ERP systems and accounting software.
  • Facilitate the flow of data between P2P and other financial systems.