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?
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 Cash & Card
In addition to the Purchase to Pay process, the Spend Cloud has a broader range of use. There are various analysis and reporting options. The Spend Cloud Expense addition is particularly interesting. With smart payment cards for employees, you can easily put an end to the hassle that comes with expense claims. More on this can be found on the smart payment cards page.
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.
One Spend Cloud, 5 modules
Spend Cloud
The Spend Cloud is a complete solution containing five different functionalities to control all business expenses. You decide which functionalities suit your organisation, at what time.
Read more about the Spend Cloud
Procurement
The Procurement module streamlines the procurement process and offers control over employees’ ordering habits. Combining the Procurement module with the Invoicing and Contract Management modules gives you control over the whole Purchase-to-Pay process within a single Spend Cloud.
Read more about Procurement
Invoice Processing
The Spend Cloud’s digital invoicing gives your organisation insight, oversight and control over this time-consuming process. Combining the Invoicing module with the Procurement and Contract Management modules gives you control over the whole Purchase-to-Pay process within a single Spend Cloud.
Read more about Invoice Processing
Contract Management
The Contract Management module is part of the Spend Cloud. This module makes management of contracts simple and transparent and prevents undesirable contract extensions. Combining it with the Procurement and Invoicing modules ensures the whole Purchase-to-Pay process can be managed within a single Spend Cloud.
Read more about Contract Management
Cash & Card
With the Cash & Card module, employees receive payment cards for their business expenses. These cards can be fully controlled by the organisation itself. This offers convenience for employees, and control and oversight for the organisation. Combining the Cash & Card module with other modules enables management of all expenditure streams within a single Spend Cloud.
Read more about Cash & Card
Expense Claims
The Expense Claim module makes claiming expenses a clear and streamlined process. Combining the Expanse Claim module with other modules in a single Spend Cloud enables central management of all expenditure streams.
Read more about Expense ClaimsDownload factsheet
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.
