Purchase to Pay with the Spend Cloud
The Purchase to Pay process (P2P) in the Spend Cloud consists of Procurement, Invoice Processing, Contract Management, Commitments and a number of bonus functionalities to best suit your needs.
Curious about the benefits of these separate Spend Cloud processes, and the combination?
What does Purchase to Pay mean and what is the Purchase to Pay process?
Do you have control over all business expenses? Is it important to gain insights into current liabilities? If so, optimizing the Purchase to Pay process is certainly interesting for you.
The Purchase to Pay process (P2P) in the Spend Cloud consists of the procurement, invoice processing and contract management process, with various bonus functionalities like Liabilities and Autosuggest. Procurement is the first step in this process. A request is checked and approved through automated workflows in order for it to be paid. A contract could also start up this process. Contracts can create digital invoices that get paid through automated workflows. You could also make use of commitments administration, since this is one of the many bonus features the Spend Cloud has to offer. This entire Purchase to Pay process can be quite overwhelming, thus, the Spend Cloud is a great addition to help support administrative processes.
The Purchase to Pay process (P2P) in the Spend Cloud consists of the procurement, invoice processing and contract management process, with various bonus functionalities like Liabilities and Autosuggest. Procurement is the first step in this process. A request is checked and approved through automated workflows in order for it to be paid. A contract could also start up this process. Contracts can create digital invoices that get paid through automated workflows. You could also make use of commitments administration, since this is one of the many bonus features the Spend Cloud has to offer. This entire Purchase to Pay process can be quite overwhelming, thus, the Spend Cloud is a great addition to help support administrative processes.
The benefits of a digital Purchase to Pay process
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Process invoices faster with 3-way matching and artificial intelligence
The Spend Cloud automatically checks if the purchase order, registered delivery and invoice match. The invoice will then be processed without any need for manual actions (touchless!). The result: fully matched, coded and approved invoices, ready for payment in your financial system.
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Matching digital invoices even faster with contractual commitments
Invoices can be matched to a contract. This will give you an overview of the contract’s utilization. In addition, it provides the possibility to automatically code and assess the invoices based on the associated contract and/or liabilities. When there is a complete match between the installment amount and the contract agreements, manual approval of the invoice is no longer needed and can therefore be processed completely automatically.
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Save money in addition to time
Since employees have to execute fewer manual actions and thus make fewer mistakes, FTE ánd processing costs are saved. In addition, the chances of fraud are smaller, saving money as well!
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The bigger picture with smart payment cards
In addition to the Purchase to Pay process, the Spend Cloud has a broader range of use. There are various analysis and reporting options. Spend Cloud Expense is a particularly interesting addition. With smart payment cards for employees, you can easily put an end to the hassle that comes with expense claims.
More information about Purchase to Pay?
Check out every benefit of working with a fully digital and automatic Purchase to Pay process in this factsheet.
How does 3-way matching work within the Purchase to Pay process?
Order
You compile a request and create an order, for example via one of the various OCI connections.
Delivery
You receive the delivery and register whether it has arrived correctly in the Spend Cloud.
Invoice
Recognition
The invoice will be recognized by the Spend Cloud.
3-way matching
The Spend Cloud checks whether the purchase order, registered delivery and invoice match one another. If this is the case, the invoice is approved automatically.
Order
You compile a request and create an order, for example via one of the various OCI connections.
Delivery
You receive the delivery and register whether it has arrived correctly in the Spend Cloud.
Invoice
You receive the invoice in the Spend Cloud.
Recognition
The invoice will be recognized by the Spend Cloud.
3-way matching
The Spend Cloud checks whether the purchase order, registered delivery and invoice match one another. If this is the case, the invoice is approved automatically.
More information about Purchase to Pay?
Check out every benefit of working with a fully digital and automatic Purchase to Pay process in this factsheet.
Do you want a price indication specifically for your organization?
One Spend Cloud
Spend Cloud
Give employees the freedom to use smart payment cards, while Finance manages all expenses. Spend Cloud Cards are under the organizations full control. Combine Spend Cloud Expense and Purchase to Pay to manage all expenditure flows in one environment.
Make the expense claims process more user-friendly and more manageable. Combine expense claims software and smart Spend Cloud Cards to save employees time they can then spend on core tasks. Combine Spend Cloud Expense and Purchase to Pay to manage all expenditure flows in one environment.
‘The new way of claiming expenses.’ Employees pay with smart debit cards and only claim expenses when they absolutely have to. More freedom for employees, more control over expenses for Finance. Ready for a user-friendly expense claims process, combined with debit cards?
Take control over time consuming invoice processing and gain clarity. The Spend Cloud processes data automatically, one to one, and makes suggestions based on artificial intelligence. This speeds up your invoice processing. A fully automated Purchase to Pay process is within reach with contract management and procurement software.
“With the ABC analysis you are served at your beck and call,” according to Spend Cloud users. Optimize your purchasing flows, minimize your processing costs and always be sure that you have the correct, complete and most up-to-date information for an audit. Spend Cloud analyzes are indispensable in a digitized Purchase to Pay process.
With Purchase to Pay Basic you use invoice processing with all its benefits. A digital archive, fewer manual actions, assessment via the Spend Cloud App and XML invoices. Curious to see what happens if you link this process to contract management and procurement?
Get overview and control over the time-consuming invoice processing process. The Spend Cloud automatically takes over invoice data one-to-one and makes booking proposals with artificial intelligence. This way you can code invoices faster. A fully automatic Purchase to Pay process is within reach with contract management and procurement software.
Make managing contracts easy and never miss a beat. Unwanted contract extensions are a thing of the past and ways to save costs are clear as day when using contract management software. A fully automated Purchase to Pay process is within reach with invoice processing and procurement software.
According to Spend Cloud users, “the Spend Cloud’s ABC-analysis is at your beck and call.” Optimize procurement flows, minimize processing costs and always be sure that you have the complete, correct and most accurate data for an audit. Spend Cloud analyses are invaluable for a digitized Purchase to Pay process.
With Purchase to Pay Advanced you use invoice processing and procurement. This gives you the certainty of 3-way matching, control over ordering behviour, a streamlined procurement process and ordering options at 200+ webshops. Curious to see what happens if you link this process to contract management?
Get overview and control over the time-consuming invoice processing process. The Spend Cloud automatically takes over invoice data one-to-one and makes booking proposals with artificial intelligence. This way you can code invoices faster. A fully automatic Purchase to Pay process is within reach with contract management and procurement software.
Guarantee that employees adhere to the procurement policy with procurement software from the Spend Cloud. This prevents only finding errors while processing invoices instead of earlier in the flow. Employees order via an OCI connection for example, and easily register a delivery with the Spend Cloud App. A fully automated Purchase to Pay process is within reach with contract management and invoice processing software.
Make managing contracts easy and never miss a beat. Unwanted contract extensions are a thing of the past and ways to save costs are clear as day when using contract management software. A fully automated Purchase to Pay process is within reach with invoice processing and procurement software.
According to Spend Cloud users, “the Spend Cloud’s ABC-analysis is at your beck and call.” Optimize procurement flows, minimize processing costs and always be sure that you have the complete, correct and most accurate data for an audit. Spend Cloud analyses are invaluable for a digitized Purchase to Pay process.
With Purchase to Pay Professional you use invoice processing, purchasing and contract management software.
This allows you to automate processes end-to-end and prevent contracts from being extended undesirably. Overview at all times, everywhere, thanks to one Spend Cloud environment.
With Purchase to Pay Basic you use invoice processing with all its benefits. A digital archive, fewer manual actions, assessment via the Spend Cloud App and XML invoices. Curious to see what happens if you link this process to contract management and procurement?
With Purchase to Pay Advanced, you streamline the entire Purchase to Pay process by integrating advanced invoice processing and contract management. Leverage artificial intelligence for swift booking proposals and structured contract management to prevent unwanted extensions.
This comprehensive solution provides a consolidated Spend Cloud environment, allowing you to optimize efficiency and strategically manage costs.
With Purchase to Pay Professional you use invoice processing, purchasing and contract management software.
This allows you to automate processes end-to-end and prevent contracts from being extended undesirably. Overview at all times, everywhere, thanks to one Spend Cloud environment.
‘The new way of claiming expenses.’ Employees pay with smart debit cards and only claim expenses when they absolutely have to. More freedom for employees, more control over expenses for Finance. Ready for a user-friendly expense claims process, combined with debit cards?
More information about Purchase to Pay?
Check out every benefit of working with a fully digital and automatic Purchase to Pay process in this factsheet.
