Integra Procure To Pay

In the wake of Sarbanes Oxley Act, the need for stronger internal financial controls has grown, particularly the need for stricter procure to pay (also known as purchase to pay or P2P) processes.

P2P is a generic term used to encompass the use of web-based technologies and electronic networks for the payment of goods and services. It is the process of enabling buying organisations and suppliers to make use of technology in order to make processes more efficient.

The net result is that resource focus will be on the frontline delivery of improved services across private, public and Not for Profit sectors.

iB Solutions is a leading provider of Procure to Pay solutions, helping organisations achieve efficiency savings. Using the latest technologies available, easy to use web-based requisitioning & ordering options are provided along with process automation facilities to pro-actively progress the various authorisation stages with the electronic distribution of the final document using the BASDA accredited XML forms.

Utilisation of these facilities can lead to many benefits within your organisation including:

• Automation of processes;
• Reduction in paper processes
• Improved matching of both GRN and invoice to order
• Payment on time to meet Government targets
• Ability to Punch Out to third party sites
• Ability to have up to date price information
• Wider access to information by the users and management
• Reduction in costs in the procurement cycle
• Upload of catalogue

Institute of Chartered Accountants, HFMA, BASDA, CFDG