Purchase-to-Pay

• How many invoices are unpaid right now that AP doesn't even know about?
• How much money is being left on the table each month because supplier contracts aren't utilized?
• How long does it take AP to get approval to pay a non-PO invoice?
• How much are accruals off every month?
• How do you make Sarbanes-Oxley a benefit rather than a pain?

Verian has been in the business of solving problems for Purchasing departments for 10 years, however..

There's been a fundamental shift in how Controllers and CFOs are looking to manage how money is spent. They want greater visibility into overall spending and need controls to manage cash and assets that comply with new regulations and tighter internal policies. Most financial software and ERP packages fall short of providing effective purchase-to-pay management.

 Typically, more than 50% of organizational spend bypasses Purchasing....

Method	Typical	Desired
PO issued	40%	80%
Expense reimbursement	10%	10%
Spot buy/ check request	50%	10%

 

 which results in:

• An ongoing, inefficient paper chase in AP to get invoices approved for payment
• Limited visibility into accruals
• Low levels of compliance with regulations (Sarbanes-Oxley, Bill 198, FASB, GASB, etc.)
• Poor analysis due to lack of data
  • Difficult to find out who is ignoring policy
  • Hard to identify opportunities for volume purchasing discounts

By implementing a Purchase-to-Pay system built on a single database that plugs into your financial software, you can:

• Eliminate paper in Purchasing and AP (huge savings!)
• Gain visibility into accruals to avoid month-end surprises and financial report errors
• Demonstrate compliance with external regulations
• Analyze data on all of your spend to:
  • Identify off-contract buying (and correct it)
  • Find opportunities for supplier consolidation, volume discounts and more favorable contract terms.

The Purchase-to-Pay user interface is consistent across all modules. A set of configurable business rules drives the application functionality, which can be easily changed over time as business needs dictate. The data is held in a relational database (Microsoft SQL or Oracle) that offers scalability and fast transaction processing.