Procure To Pay
Procure To Pay (P2P) is the process that integrates purchasing and payment systems within the company’s passive cycle. It serves to better manage all the activities related in particular to the relationship with suppliers.
Procure To PayThe digitalization of P2P
From the moment a company orders a product or a service until the inherent invoice is paid, the administrative personnel must be able to check the status of this transaction at any time. This requires an end-to-end digitalization of the entire Procure To Pay cycle, which today is covered by one or more integrated information systems. The manual and disjointed management of this activity causes diseconomies that the company cannot afford.
Procure To PayThe WIIT method
WIIT allows to shorten the processing time of purchase orders (PO) and purchase requests (RFP) by enabling the company to create orders automatically, thanks to the integration with the management system, to control the entire approval flow and to rationalize the supplier base.
The advantages of P2P
Digitalizing the Procure To Pay flow not only drastically cuts down on time, it eliminates all paperwork and reduces the manual work that buyers would otherwise have to do. This increases savings on the entire process.
P2P phases optimized by WIIT
Offers/Contracts
Workflow Management
Contracts dossier
Digital Storage
RFP/PO
Creation and management
Approval workflow
ERP integration
Transport documents and invoices
Data capture with advanced systems
ERP registration
Three way match
Approval workflow for registration and payment
Payments
Automation of reconciliation
Multichannel claims
Resourse enhancement
Recording supplier invoices is a time-consuming activity that WIIT automates, as well as monitoring, payment approval and reconciliation processes. In this way, resources dedicated to these tasks can be engaged on higher value-added work.
WIIT P2P results
The whole Procure To Pay cycle, managed with WIIT technologies and method, obtains the achievement of a rigorous regulatory compliance, of a rationalization of the company’s global expenditure, of a more accurate selection of suppliers and of an automation of those routine tasks that slow down the operations of the administrative offices.
Explore the other Business Process Management applications
From order cycle activities to procurement, from claims management to human resources administration, to quality and the creation of customized processes, the WIIT BPM system covers all critical procedures of organizations. Explore the other areas of application.
