Automate the Purchase To Pay process with EDM

Purchase To Pay at the heart of concerns

Automating the Purchase To Pay (P2P) process is becoming one of the top priorities for CFOs . As proof, at the beginning of 2020, shortly before the health crisis, a survey conducted by Markess indicated that 52% of decision-makers were considering making P2P the process to be digitized as a priority. Investments also continued in this direction in 2020 and 2021, and will increase further in 2024.

The objective of this automation? Improve the productivity, reliability and security of P2P operations.

Understanding Purchase To Pay

As a reminder, Purchase To Pay activities traditionally refer to the following 3 steps:

Purchase requests : issuance of the request, workflow/validation procedure, selection of the supplier.
Purchase orders : issuing the order, confirmation and receipt of delivery.
Invoices and payments : recording, reconciliation, payment on time.

Automating this final step of the Purchase To Pay cycle will prepare your business for compliance with the upcoming 2026 electronic invoicing requirement

EDM to optimize your P2P process

Constituting a real advantage for companies , whatever their size, the automation of the Purchase To Pay process proves to be an engine for speeding up procedures, optimizing working time, and reducing the risks linked to processing errors. seizure.

DocuWare Electronic Document Management solution , this automation becomes a catalyst for improvement for the entire purchasing process. Thanks to advanced features of automatic reading, data sharing, validation circuits, archiving, etc., the company services involved benefit from an increase in their efficiency and productivity.

In addition, DocuWare offers you the possibility of complying with electronic invoicing , which will become mandatory by 2026. By dematerializing your invoices and transmitting them to the tax administration, via its connector integrated into the PPF (Public Portal of Billing) or through its partner PDP (Partner Dematerialization Platform), GED DocuWare ensures you can switch to electronic invoicing with complete peace of mind.

Thanks to its latest 7.9 update, integrating ever more innovative forms and workflows, the DocuWare document management solution offers you the possibility of optimizing your Purchase To Pay cycle by automating time-consuming manual tasks.

Source: Pexels

The benefits of the dematerialized Purchase To Pay cycle

The dematerialization of the purchasing function makes it possible to reduce operating costs thanks to:

Reduction of manual processes and associated errors.
Reduction in processing and validation times
Optimization of validation workflows.
Automatic VAT management.
Tracking and traceability of expenses.
Improved cash flow.
Improved reporting with consolidation of company data.
Optimization of the relationship with suppliers.

The automation of Purchase To Pay guarantees an increase in productivity, a saving of time and money, thus ensuring a rapid return on investment . One more reason to invest in an automated process management and EDM solution that is perfectly integrated with your business tools.

Belharra supports you in the dematerialization of your Purchase To Pay process thanks to the integration of the GED DocuWare solution and its project methodology recognized and approved by more than 70 clients from all sectors of activity.

Source: Pexels