The benefits of Procure to Pay automation in the digital era
In the digital era, procure to pay automation services improve collaboration between buyers and suppliers and generate more supply chain value.
Digital enablement of the procure to pay process helps buyers and suppliers achieve a win–win business relationship.
Collaborative cloud-based P2P platforms put standard business rules and workflows in place, offering shared visibility which makes it easier for everyone to do business.
Procure to pay automation helps buyers make informed decisions by providing real-time feedback on potential supply chain bottlenecks and changes in demand.
Automation helps buyers interact with supply chain stakeholders fully, quickly and in real-time.
Better collaboration with vendors
Buyers must take a sophisticated approach to procurement to achieve the collaboration required for an agile supply chain.
Quick and effective communication with suppliers supports the automated exchange of orders, order responses, despatch advices, GRNs and invoices.
P2P optimisation is critical in the Consumer Package Goods, Food Services and Pharma sectors, with their complex and time sensitive supply chains.
The ability to bring your suppliers with you and fully engage in the procurement process transforms vendor relationships.
Better collaboration improves vendor selection and compliance and makes it easier to evaluate vendor performance.
By optimising the procure to pay process it’s possible to keep accurate and updated supplier, product and price information and have it readily available when you need it.
End-to-end automation of the procure-to-pay process satisfies risk, compliance and data management needs.
Adopting a new P2P process:
• Reduces manual processing
• Removes manual controls
• Improves data quality
• Streamlines document matching
Data flows freely between all parts of the supply chain and unwanted transactions are prevented from entering the sytem.
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Does your supply chain need help?
Ordering goods and services - Getting deliveries out on time and meeting order deadlines.
Information management - Issues with the quality of information being exchanged which result in mistakes and exception handling.
Managing vendor relationships - Difficulty assessing and evaluate suppliers and holding them to higher standards.
Vendor compliance - Unclear processes for obtaining, storing and maintaining accuracy of supplier qualification and compliance information.
Vendor onboarding - Finding quality suppliers, setting them up and integrating them with your procurement process.
Product management - It's hard to capture supplier and product information in a standardised easy to use way.
Price management - Difficult to validate that invoices reflect the goods receive at the price expected.
Supply chain visibility - Tracking all actions for the ordering, delivery, and invoicing of products.
TradeHub:Buy from Celtrino is a smart procure to pay software service that helps you connect and share information with all your trading partners.
• Offers full visibility of supply chain transaction status and supplier performance
• Provides configurable supply chain business rules
• Integrates with any back-office system
• Makes monitoring P2P activities easier
• Speeds up the payment process
TradeHub:Buy simplifies the procure to pay process and makes it easy for suppliers to carry out the actions you want them to, while still providing you with the information you require.
For more information visit our website or contact us here.