NewgenONE Platform for
Procure to Pay Software
Achieve faster cycle times by streamlining vendor selection, management, and interactions
The procure-to-pay process (P2P) is extremely complex—spanning multiple systems and operations. The process involves huge cash flows and is often prone to money leakages, inefficiencies, and fraud.
Our P2P automation software helps to mitigate these challenges by streamlining the end-to-end process, from purchase request and vendor selection to final invoice generation and disbursement of payments. The software provides a unified user interface, allowing organizations to integrate with different ERPs, to gain visibility into the complete transaction lifecycle and to reduce the risk of fraud and inefficiency.
Features of Newgen Procure to Pay Software
RFP Comparison and Evaluation
Grouping of purchase requisitions based on the defined parameters
Automated comparing of multiple quotes to identify the right vendor
Self-service Vendor Portal
Provisions for vendor onboarding, invoice submission, tracking status, flipping purchase orders, and raising queries
Increased visibility and control for vendors
Omnichannel Processing
Invoice capture through various channels, like email, EDI, mobile, scanned documents, FTP, and portal
Multi-level approval based on the delegation-of-authority matrix, with various options to approve/reject a transaction via email, mobile application, or company portal
Holistic View of Underlying Workflows
360-degree view of transactions, with insights including pending advances, manual coding suggestions, duplicate rate, and vendor straight-through processing rate
Identification and removal of process bottlenecks
Intelligent Document Management
Maintenance and segregation of various documents in a defined structure
Extraction of header and line-level information from semi-structured documents and result comparisons to ensure data accuracy
Unified Systems and Processes
Integration with ERPs, third-party, and legacy applications for seamless push and pull operations
Unified systems and processes for shorter turnaround times and better resource utilization
Brands using NewgenONE Platform
