Procure-to-Pay

 

 

 

 

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Procure-to-Pay Solution

Manage all your buying, approvals, compliance, payments, and vendors through a digital procurement process.

C1’s Procure-to-Pay is a comprehensive solution for businesses of all sizes to automate their end-to-end procurement and sourcing processes. It empowers businesses by providing greater transparency and oversight into the purchasing process.

C1’s Procure-to-Pay software solution covers every step of procurement — from requisition to approval, vendor communication and relationship management, payment, and reporting. Implementation is easy and rapid, with superb legacy integration capabilities, and minimal training required for any level of user.

It improves control, compliance and process efficiency, and reduces paperwork, processing errors and costs. From order to invoice, your procurement operations will become more efficient, gain valuable insights into spending patterns, and save more time and money.

The Procure-to-Pay (P2P) cycle, also known as the Purchase-to-Pay cycle, is a comprehensive process that covers all the steps involved in acquiring goods or services within an organization. It starts with the identification of a need for a particular item or service and concludes with the payment to the supplier.

  • Requisitioning: Identify the need and create a requisition document to start the procurement process.
  • Sourcing: Select and negotiate with suppliers to secure the best terms and conditions.
  • Purchasing: Create a purchase order with specific details for the requested goods or services.
  • Receiving: Verify received items against the purchase order to ensure accuracy and quality.
  • Invoice Approval: Match the supplier's invoice with the purchase order and receiving records.
  • Payment: Process timely payment to suppliers based on approved invoices and agreed terms.

 

 

Key Benefits

Reduce maverick spending

Procurement process standardization

Reduce processing time, effort, errors and paperwork

Improve spend transparency

New savings opportunities

Key Features of Procure-to-Pay Solution

  • Create and follow purchase orders in close collaboration with the internal requesters and your vendors
  • Manage goods delivery, check invoices, and proceed with payment
  • Drive savings to the bottom line to maximize the value of sourcing negotiations
  • Better communication between buyer and supplier
  • Better competition and pricing
  • Online negotiations and reduced procurement timelines

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