The purchase-to-pay (P2P) process is the process an organization goes through from the dispatch of an order, up until the settlement of the supplier invoice. It’s important for this process to go off without a hitch in order to retain customers and vendors for the long-term success of the company. Empower employees with workflow automation to ensure that all information is accurate, removing ambiguity, and safeguard against ripple effect problems downstream.
The purchase-to-pay process flow consists of a large number of smaller processes that are crucial for overall organizational success. P2P takes place across departments, involving multiple stakeholders both inside and outside the business, and the exchange of sensitive information. For this reason, the process introduces added complexity, meaning that there is more room for confusion, data loss, and human error.
Requesting goods and services from the company can be an arduous process when done manually. FireStart empowers employees to easily request necessary goods and services while allowing managers to approve requests digitally. Automatically trigger a purchase requisition workflow when a purchase is required, utilize UiPath RPA to automatically fill requisition forms and Dox42 to output forms in a variety of formats like PDF or Excel. Save teams time and streamline procurement processes with end-to-end automation.
The three-way match methodology is used by Accounts Payable (AP) to determine how fully an invoice should be paid. Automating the three-way match process with FireStart allows organizations to safeguard their assets, avoid fraudulent invoices, increasing payment transparency. Instead of manually retrieving invoices and comparing the invoice against the original Purchase Order (PO), the process can be done automatically, pulling all information from various ERP systems like SAP, reducing the finance team's overall time on manual tasks. Business rules can also be added to automatically approve invoices within a certain threshold.
Store all buyer and vendor data in one central repository to speed up invoice approvals. FireStart empower you to process purchase-to-pay requests quickly by conveniently storing all data in one centralized place, making it easier for all stakeholders in the process to locate information, fill invoices, and approve requests. Buyers can also easily check the status of shipments, reducing time spent on manual tasks.
Automate the entire purchase-to-pay process end-to-end to assist your organization in maintaining a favorable company image, keeping vendors on-side, and minimizing potential errors that could cost the organization. FireStart helps streamline the P2P process, ensuring that data is kept secure and all invoices are managed within a reasonable timeframe. Internal approval loops are shortened with digital approval in seconds, and vendor loops can be managed quickly and efficiently, eliminating long, complicated email chains.
Integrate FireStart with existing procurement systems including ERP systems such as SAP, Microsoft applications such as Excel and Outlook, to send, receive, and process invoices digitally without confusion. Purchase-to-pay process improvement is essential for long-term scaling, ensuring quality, proper cash flow, and compliance.