The procure-to-pay (P2P) process starts when goods or services are required and ends with payment for said goods and services. The process is essential to keeping things running smoothly
Hard to have a single and integrated source of accurate data for supplier and business data.
The silos create inefficient processes that are error-prone and manual, such as handling everything on paper invoices, which ends up costing the organization more money in additional labor costs
Governance and compliance of procurement processes tend to be inflexible. The key principle of spend preapproval is often viewed as unwanted, which results in non-contracted spending and ad-hoc purchases
All purchase orders almost are not in one place, this becomes an unclear authority on company spending. And this leads to more blurry views when that is also connected to company cards and expense claims.
A strategic and well-planned P2P process automation has the capacity to:
Instead of manually filling out paper purchase reports, scanning them or entering the data by hand, and then emailing them to those responsible around the company
Finally, the benefits of PO automation