Procure to Pay Definition
[dropcap4]1[/dropcap4]Procure to Pay supports companies in their spending, often more than 50% of their total turnover, with the goal to optimize spending manangement.
The Initiative Strategic Sourcing and Procure to Pay focuses on increasing the efficiency of the process that goes from ordering to invoicing and reporting, so as to gain more value and lower operating costs.
An intelligent and controlled expenditure management (Spend Management) helps companies to harness the potential of their utility markets, thus creating a long-term value.
Procure to Pay is not about simply ordering goods and services. It includes further billing and payment, as well as implementation monitoring features.
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[dropcap4]2[/dropcap4] Business Value
- Increase corporate profits through a methodical, standardized and streamlined procurement with increased focus on cost containment
- Achieve your business goals faster using a professional end-to-end procurement process and increased efficiency levels through the automation of the procurement process
- Receive cost-effective solutions (discounts) due to volume effects and the optimization of the number of your suppliers
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[dropcap4]3[/dropcap4] TSG Contribution
- Provider database
- Requirements Planning (Requisition Management)
- Ordering (Order Management)
- Accounting (Invoice Management)
- Expenditure Analysis
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