Purchase to Pay (P2P)

Purchase to Pay will improve your bottom line.

As with many IT definitions, Purchase to Pay (P2P) means different things to different people. At Redmap we deliver Purchase to Pay automation which allows an organization to control the receipt of goods or services (i.e. Vendor invoices) and ensure the receipts matches the original purchase requests.

How do we do it?

• Redmap solutions can compare vendor invoices to the purchase orders generated by your Accounting/ERP system to ensure the invoice matches the purchase order.
• Where physical goods have been receipted, such as via a warehouse, the delivery receipt may be compared to the original purchase order to identify any short orders.
• Any exceptions are automatically forwarded to our Invoice Approval Workflow module.
• Those organisations that do not use purchase orders for their deliveries can also utilize this workflow module to ensure that the goods that have arrived were those ordered.
• Once all of the invoices have been confirmed to match the order, or have been approved by the relevant manager, the invoices are automatically uploaded to your Accounting/ERP system.
• To complete the process all documents are then archived for instant retrieval at a later date.

How can your company benefit from Purchase to Pay automation?

• Increased use of purchase orders provides tighter control over spending.
• Greater visibility of the cash position of the organization
• Quicker approval of invoices providing access to early pay discounts for those organisations wishing to take advantage of them.
• Reduced consequential loss or business interruption due to accounts being on credit hold due to non or late payment
• Immediate identification of invoices that don’t match the order.
• A well-implemented Purchase to Pay solution will allow invoices that match the purchase orders to be scanned and uploaded with no manual interaction to the Accounting/ERP software.

Redmap have been delivering Purchase to Pay solutions for the last 14 years. For more information on how purchase to pay can work for you please click on links below.

Redmap is a document management expert providing wide range of paperless office solutions to organisations. Fromdocument archiving which can help improve business productivity and efficiency, to streamlining that accounts payable workflow, To find out the best solution to solve your document automation challenges, contact Redmap to discuss how our document management system that can be tailored to your exact needs.