Procure-to-Pay Process Automation Software
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.
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
- 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
Read this eBook to learn seven reasons why Newgen is the right technology partner for ...
Learn how accounting and finance team can bring efficiency and strong governance in the close ...
Download the complete case study to learn how the client eliminated various operational challenges and ...
In this eBook, explore the nuts and bolts of BPR and gain insights into six ...