Purchase-to-pay (P2P) processes can be time-consuming, and the speed of the processes can be critical to your ability to deliver goods and services to your customers in time. Increasing the P2P turnaround time can be essential to provide your customers with a swift reply to their requests and to ensure that stock replenishment is carried out swiftly and precisely.
P2P processes can be time-consuming and involve manual activities, phone calls, emails and printouts, all of which contribute to slowing down your supply chain processes. With the right mix of modern solutions, business processes can be optimised to empower the people in your organisation and the stakeholders within and outside of your organisation.
Automating P2P processes can help you in the following areas:
- Master Data Management – get your product master data and prices updated automatically without manual interactions by connecting your vendors to your master data tables.
- Requisition processes – identifying the needs for goods and services can be automated by the use of Artificial Intelligence (AI).
- Approving of requisition – By using automated approval workflows, the process can be boosted and will secure compliance in approvals.
- Purchase Order Processing – Export the PO to your suppliers in one single file format.
- Order Confirmation – importing the PO confirmation from your suppliers helps you to create automatic workflows should an Order Confirmation divert from the PO.
- Goods Receiving – Delivery Notificationimport helps to populate and update the information required while receiving goods like serial numbers, quantity, quality, packages etc.
- Accounts Payable Management – boost three-way matching by automatically having all information tracked; the PO was created automatically, the delivery receipt was imported next to it, and the supplier’s invoice can easily be proven legitimate and ready to be paid.
Sign up for this collaboration webinar between BE-terna and Logiq to learn how your Purchase-to-pay workflows can be optimised, save cost, boost efficiency and increase visibility.
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