Procure-to-Pay Automation

Procure-to-Pay or P2P is an accounting process that manages orders and payments to approved suppliers. Leadership relies on the P2P team to enforce procurement policies, only pay valid invoices and comply with regulatory requirements.

The procure-to-pay challenges are many:

  • Many suppliers and invoices each require review and handling
  • Accurate and timely remittance
  • Bad actors
  • Accurate supplier information

All too often, the sheer scale of the P2P makes it a mechanical process. Our approach automates routine work so your accounts payable team can focus on the exceptions.

Our solutions complement your existing P2P systems, automate remaining manual work and help manage exceptions:

You need to know a lot about your suppliers. Our solution makes supplier information management (e.g., entity-type, Tax ID, contacts, insurance coverage, contracts) easier by:

  • gathering supplier information (with or without signatures) such as new or updated supplier forms, insurance certificates, or W9 documents
  • setting up new suppliers and updating existing supplier records
  • confirming that supplier ¬†licensing
  • Alerting management to atypical events sometimes attempted by bad actors

Organizations face a deluge of invoices from suppliers who all want to get paid. Unfortunately, invoice templates vary from supplier-to-supplier. Our hands-free at scale solution manages invoices by

  • receiving invoices through email or from a scanning station
  • extracting data, optionally getting line item details for PO matching
  • full automated invoice coding and tagging
  • loading invoice data into your accounts payable system
  • loading a PDF copy of the invoice or saving it to a secure location.

You want to pay your suppliers on time. Our solution manages remittance

  • creating, validating and logging payment requests
  • preparing bank payment instructions for approved invoices
  • separating and alerting on atypical invoices or payment requests
  • notifying treasury to ensure funding is available
  • issuing bank instructions and remittance advice to suppliers.

You need easy access to a full view into individual suppliers such as open purchase orders, invoices and payments, and their quality and reliability. Unfortunately, the answers may be contained in different systems. Our solution makes it easy to generate consolidated supplier information by:

  • gathering information from your in-house and external systems
  • if applicable, completing predefined supplier analysis, including Excel, PowerPoint or other means
  • delivering outputs to authorized parties, including vendor self-service through portal, email or chatbot integration
  • Using this same data acquisition approach integrated with human-in-the-loop capabilities can be used to enable supplier self-service

We make it easier for you to evaluate each supplier and ensure that they are performing as promised, and we can help suppliers help themselves rather than rely on your team to answer their inquiries.

Our solution generates consolidated management reports by:

  • gathering information from your in-house and external systems
  • creating supplier analysis, including associated Excel and PowerPoint files
  • delivering outputs to authorized parties