What is a Purchase-to-Pay system?
A Purchase-to- Pay system automates and connects procurement and the payment of invoices using workflow. The business processes involved include the raising of purchase orders, receiving goods, budgeting and paying for the goods and services.
Purchase-to-Pay systems give organizations greater control over the whole purchasing transaction and also give much clearer visibility on outstanding expenditure. There is no manual handling of invoices as they are received and processed electronically and no physical storage space is required.
The main benefits of using a Purchase-to-Pay system are substantial cost savings and efficiencies as financial commitments become apparent at the procurement stage rather than when invoices are received.
For further information on Purchase-to-Pay systems please click here or call Cloud B2B Solutions on 0800 840 3336.
Subscribe to our RSS feed to receive all of our latest updates.