Get Spend Right with Procure-to-Pay from Ariba and Intrigo
What is Procure-to-Pay?
Procure-to-Pay is the process by which you engage with a third-party supplier or an external vendor when you need to obtain raw materials or services to manufacture a product or to provide a service. The Procure-to-Pay process includes all the tasks from creating a purchase requisition to making the payment to the vendor for the product or service and everything in between! It includes the transactional data flow that is sent to the vendor and also the information that is needed for fulfilling the actual order and the payment for the product or service.
With Procure-to-Pay solutions, you can manage your purchase orders (PO) more effectively. For example, it can help you gain maximum advantage in terms of purchasing power and can help you negotiate better contracts.
The steps in the Procure-to-Pay process are as follows:
The process starts with the creation of a Purchase Requisition (PR). This document enables other users in the company to specify the goods or raw materials that need to be purchased. Followed by this stage is the RFP process. The Procurement department engages in this process before issuing a contract in order to choose a vendor who can provide the raw materials or goods. The last task is to record the payment for the vendor.
The key capabilities of Procure-to-Pay include:
Sourcing and Contract Management
Inventory and Warehouse Management
Invoice and Payables Management
Automate your end-to-end procurement process
Gain insight into spending performance and identify opportunities for cutting costs
Streamline the Procure-to-Pay process right from purchase requisitioning to invoicing and adapt to the rapidly changing requirement
Lower costs by optimizing inventory levels and reduce unused space
Gain 360-degree visibility into supplier and customer relationships
Deploy anywhere in the world
Reduce errors and risks that stem from data entry errors and duplications
Improve catalog management and simplify the purchase of goods and services