Procure to Pay (P2P)
Computron’s Purchase to Pay (P2P) is a comprehensive, web-based solution that manages the entire procurement cycle from requisition to payment. It provides fast and secure online access to key procurement functions while introducing budgetary control over expenditures. Included in the P2P solution is an extensive set of reporting tools for CFOs and Procurement Professionals to analyze data for integrity, transparency and auditing requirements.
Integration with Computron Financial Management solutions ensures complete support for the purchase-to-pay process, with real-time account validation and a level of security unmatched by standalone systems. P2P ensures that only authorized personnel can make purchases against a particular account code, department, or project and makes it easy to implement and operate commitment accounting, thus providing real-time control over expenditure.
P2P offers a web-based catalog interface for finding items and adding them to a purchase requisition. Links to supplier websites are provided should you need additional item information, such as technical specifications or pictures. To keep tight buying controls, P2P automatically checks purchasing budgets to ensure compliance with pre-defined buying limits.
Requisition Routing and Approval
Thanks to automatic purchase request validation against purchasing rules and budgets, approvers need not waste time considering requests that are unfunded or “outside policy.” Requisitions that do pass up-front validation are automatically routed for approval to appropriate individuals, who can view a requisition’s history, amend or reject the requisition, attach supporting documentation and return the requisition to the originator, or approve and release the requisition.
Create Purchase Order
Once the Requisition is approved, it can be automatically converted into an official Purchase Order and sent to the supplier via email.
Receiving functions are performed via an intuitive web-based interface. P2P automatically extracts and links key data from the Purchase Order into the receipt to minimize manual data entry. Full integration with Computron’s Inventory Module ensures real‐time and accurate updates to inventory records.
P2P leverages imaging and OCR technologies to automate the invoice entry process; minimizing human errors are minimized and increasing operating efficiencies. P2P will automatically perform a three-way match (Invoice Receipt/PO) to ensure that only matched invoices are eligible for payment while automatically routing mismatches to the appropriate users for review and resolution.
Payments for approved invoices are generated in a secure, controlled environment using one of several payment methods, including electronic funds transfer and computer check. P2P maintains payment visibility for all involved in the P2P cycle.
Inquiry and Analysis
Computron’s intuitive, customizable Procurement solution offers unprecedented control and visibility over the procurement process. Order tracking, vendor, and item histories are easily accessible, giving you fast and reliable information when required. The “Zoom Inquiry” tool provides drill‐down functions that enable you to get to the bottom of a particular transaction.
Vendor and Catalog Management
P2P supports links to external supplier catalogues as well as in‐house categorized lists of goods and services. To build strong and lasting vendor relationships, P2P provides vendor performance evaluation and statistics based on:
- Actual Delivery and Promised Delivery Dates
- Rejected/Returned Goods
- Price Performance Statistics are maintained by Vendor, Item, or a combination of the two.