Modernize your purchase-to-pay process
Save time without sacrificing quality by streamlining your purchase-to-pay process with automation software
Free up your time with procure-to-pay automation
You quickly fall behind the competition with outdated purchase-to-pay (or procure-to-pay) processes. Efficiency standards aren’t met, which results in higher costs for your company. Additionally, lengthy processing times lead to delayed payments, hurting your relationship with your vendors.
With Document Capture and Payment management, you can automate your purchase and payment processes directly from your Business Central. An automated workflow allows you to easily standardize your P2P process and increase visibility across your purchasing cycle.
Procure-to-pay process automation benefits
- Reduce the amount of time and effort required to complete each step
- Ensure accuracy with automated data entry and validation checks
- Automatically approve payments under a certain limit
- Speed up invoice and payment processing times with automatic approval flows and direct communication with your bank
- Save costs by improving the overall efficiency of your purchase to payment process
Your automated procure-to-pay process flow
1. Identify your needsBased on upcoming projects, events, inventory, and other factors, your company identifies a need for a product, service, etc. You define the need specifications and select a supplier.
2. Create a purchase orderOnce your purchase requisition is approved, you create a purchase order. Ensuring all the details are correct, you send it off to the vendor for confirmation.
3. Receive your orderOnce the order is received in your warehouse, your invoice is imported into Business Central. Document Capture's intelligent OCR captures and extracts the data, removing the need for manual data entry.
4. Match your invoiceDocument Capture registers your invoice, which is reconciled with automatic three-way matching. Your invoice is compared and matched with the corresponding purchase order and receipt if there are no inconsistencies.
5. Approve your invoiceYour invoice is sent to the appropriate workflow for approval by one or more approvers. It's then posted before you pay your vendor.
6. Approve your paymentPayment Management allows you to create a payment suggestion in your Payment Journal once your invoice is processed. Your payment line information and payment details are validated, and the payment is sent for approval.
7. Pay your vendorOnce approved, you send the payment to your bank, where you can follow the status in real-time directly from your Business Central. The recipient is notified via email, and the payment is posted in your Payment Journal.
Document Capture features you'll love
- Reduce manual typing and eliminate errors with intelligent OCR
- Ensure consistency with automatic three-way matching
- Cut down on waiting times with a full approval workflow
- Get a clear overview of your contracts and save time managing them
- Pull up documents in seconds with a fully indexed digital archive
Payment Management features you'll love
- Direct communication between Business Central and your bank
- Easily look up bank account details with your vendor's IBAN
- Optimize your bank account reconciliation with Statement Intelligence
- Cut down on waiting times with an efficient and safe approval workflow
- Save on transfer fees by summarizing payments to the same recipient
- Receive payment status updates from the bank in real-time
Watch Document Capture and Payment Management work hand-in-hand
Automate your purchase-to-pay process today!
Click the link below to book a demo and learn more about how Document Capture and Payment Management can help you automate your purchase and payment processes.