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?Â
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.Â
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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, they make fewer mistakes. This also saves FTE AND processing costs. 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.Â
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.Â
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.Â
Recognition
The invoice will be recognized by the Spend Cloud.Â
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.Â
Do you want a price indication specifically for your organization?Â
One Spend Cloud
Spend Cloud
Giving employees smart debit cards to make organisational expenses:
- Gives Finance complete control over card balances
- Makes assessing expenses easier for budget holders
- Makes managing cards easy, in just one system
- Facilitates online payments
Smart debit cards, if possible, claim expenses when inevitable. Additional expense claims software with:
- Options to easily add receipts
- Progress reports on processing time
- Assess in accordance with the procurement policy
- Exports with just one click
- A digital archive
Employees pay with smart debit cards and only submit expense claims when necessary.
- Card transactions are processed digitally
- Real-time visibility of card balances everywhere
- Standardized coding of card transactions by expense type (ledger accounts)
Gain insight and control with automated invoice processing:
- Process invoices with artificial intelligence
- Integrated OCR scan-and-recognition software
- Software for an unlimited number of users
- Includes an unlimited number of administrations
- A complete audit trail
- Transferable archives and tasks
- Integrate with contract management and/or procurement
“The ABC analysis offers a fantastic experience with almost no effort from me!” according to Spend Cloud users.
- Optimize procurement flows
- Minimize process costs
- Trust accurate and complete datasets
- Rely on accurate, complete, and up-to-date data.
Spend Cloud analyses are indispensable in a digitalized 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?Â
Gain insight and control with automated invoice processing:
- Process invoices with artificial intelligence
- Integrated OCR scan-and-recognition software
- Software for an unlimited number of users
- Includes an unlimited number of administrations
- A complete audit trail
- Transferable archives and tasks
- Integrate with contract management and/or procurement
Simplify and clarify contract management with:
- Automated matching to invoices
- Notifications that help prevent unwanted renewals
- A complete audit trail
This way, you know exactly where to optimize and save costs.
“The ABC analysis offers a fantastic experience with almost no effort from me!” according to Spend Cloud users.
- Optimize procurement flows
- Minimize process costs
- Trust accurate and complete datasets
- Rely on accurate, complete, and up-to-date data.
Spend Cloud analyses are indispensable in a digitalized 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?
Gain insight and control with automated invoice processing:
- Process invoices with artificial intelligence
- Integrated OCR scan-and-recognition software
- Software for an unlimited number of users
- Includes an unlimited number of administrations
- A complete audit trail
- Transferable archives and tasks
- Integrate with contract management and/or procurement
Guarantee accordance with the procurement policy thanks to Spend Cloud procurement software:
- 250+ available OCI-webshop connections
- Automated (3-way) matching to invoices
- Easily register orders as received in the Spend Cloud App
- Software for an unlimited number of purchasers
Simplify and clarify contract management with:
- Automated matching to invoices
- Notifications that help prevent unwanted renewals
- A complete audit trail
This way, you know exactly where to optimize and save costs.
“The ABC analysis offers a fantastic experience with almost no effort from me!” according to Spend Cloud users.
- Optimize procurement flows
- Minimize process costs
- Trust accurate and complete datasets
- Rely on accurate, complete, and up-to-date data.
Spend Cloud analyses are indispensable in a digitalized Purchase to Pay process.
Purchase to Pay Professional provides you with benefits of invoice processing, contract management and procurement software:
- Touchless invoice processing
- End-to-end automation
- Preventing unwanted contract renewals
With Purchase to Pay Basic, you benefit from invoice processing with the following advantages:
- Faster processing time
- Fewer manual actions
- Always prepared for staff turnover
- Easy review via the app
- XML invoices and 3-way matching
Purchase to Pay Advanced provides you with benefits of invoice processing and contract management like:
- Entry proposals with artificial intelligence
- Preventing unwanted contract renewals
- Less manual labour
Purchase to Pay Professional provides you with benefits of invoice processing, contract management and procurement software:
- Touchless invoice processing
- End-to-end automation
- Preventing unwanted contract renewals
Employees pay with smart debit cards and only submit expense claims when necessary.
- Card transactions are processed digitally
- Real-time visibility of card balances everywhere
- Standardized coding of card transactions by expense type (ledger accounts)
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.
