Why Procure to Pay?
Exela Procure to Pay offers complete Procure to Pay solutions - maintaining Product Catalogs (Goods & Services), creating/approving Purchase Requests, generating Purchase Orders, managing Contracts, creating Shipment Notes, recording Goods Receipts, updating Service entry sheets, Invoice submission, approval and payments. Accounts Payable Workflow with high degree of automation helps organizations reduce costs and errors and improve turnaround times.
Highlights including below points:
Paperless invoicing service that reduces administrative costs and manages cash flow.
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Removes the hassle of dealing with all those different types of invoices you have to send or receive - paper, PDF...
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Operates in the cloud, offers greater security and drastically reduces paper handling
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Allows you to upload Budgets and manage Capex requests. You can raise Purchase Requests by importing required items from Products (Goods & Services) master. PR Approval process is customizable based on your organization's Authority Matrix. Purchase Requests are linked with Budget/Capex requests
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Purchase Orders can be created adhoc or from approved Purchase Requests. The PO template can be customized to reflect your organization’s standard format. Your suppliers will be notified for all POs generated. Provisions given to amend or cancel a PO. Suppliers can update PO status. Contracts with Supplier can be effectively managed.
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Suppliers can also leverage Exela P2P for raising Shipment Notes and creating Invoices. Invoices can be created by flipping a PO or adhoc. Invoices can also be created in a separate Invoicing application and sent to Exela P2P for Buyer approval and payment. This can be done by multiple channels such as paper, email, fax etc.
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Multiple languages and multiple currencies - if you have subsidiaries across the globe, or expanding...
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Businesses can send, receive, approve or refer their invoices without the additional costs of printing and mail.
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Allows you to see the status of all your invoices and when they will be paid, helping you improve your cash flow.
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Exela P2P also provides an in-built B2B online shopping area for selling and purchasing products of different categories (eCommerce). Suppliers can upload their product catalogs with all necessary information. Buyers can browse the Catalogs and select the required items. After shopping, the cart can be flipped to a Purchase Request.
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Part of the fulfilment process, you can manage Goods Receipts (with QC) and details of Services availed. You can also do Inventory management - setting Low Stock threshold levels, manual/systemic updation of stock levels, low stock notifications and linking to Purchase module. Fixed Assets procured can also be managed effectively
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Exela P2P offers a highly customizable AP workflow that handle PO and non-PO invoices efficiently. Workflow includes Exception management, multi-stage approval, GL coding, payments and disputes. AP Automation includes 2-way, 3-way matching, duplicate identification, Auto-GL coding from templates etc. Supports integration with ERP systems.
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