Improve procure to pay cycle times and reduce discrepancies between orders and invoices.
With i2B you can establish a cloud based SaaS digital purchase to pay process for all your suppliers, goods and services.
Issues In The Procure To Pay Cycle
How many times have been you asked from your vendor to change a delivery date, to check the status of an invoice , when payment will be received, or if the goods have been receipted? Do you know how much time is wasted manually chasing, sorting and categorising paperwork in the procure to pay cycle?
These daily issues start to build-up snowballing into chaos and firefighting at the end of the month. Your credibility is affected because you are unable to give accurate information to key stakeholders, and your inability to stay on schedule disrupts their schedule.
The problems in the cycle have a knock on effect within the entire business, the time spent chasing vendor queries from buyers should be spent negotiating better prices and contracts with your vendors.
Digitise, Automate & Optimise The Procure To Pay Cycle
- The adoption of technology greatly streamlines the procure to pay cycle. From chasing vendors for you and automating purchase orders when thresholds are reached, to making real-time data driven decisions and notifying the appropriate person to keep the cycle moving.
Visibility
- It is vital that you know where purchase orders are in the procure to pay cycle, what needs to be done at your end, and what vendors are up to.
- No software installations.
- Free to use for your suppliers.
Accountability
- Every chain in the supply chain, every vendor performance, and every interaction in the procurement cycle is tracked so you are in the loop at all times.
- Communicating changes instantly with full change history of the PO, as well as requesting changes to delivery dates / pricing / order quantities