What is Purchase To Pay
Purchase-To-Pay often abbreviated to P2P, is the entire end-to-end process involved in procurement of goods and services and relies on technology and digital networks for efficieny and compliance. Purchase-to-Pay is a more strategic approach to procurement’s core business process because it focuses on spend analytics, strategic sourcing, vendor management, purchasing, accounts payable and overall performance management & reporting. Purchase to pay systems include:
Our purchasing capabilities are simply world class. We will host and manage your company specific catalog, simplify requisitioning, ensure proper controls using order approval and invoice reconciliation tools, provide up to the minute visibility into order status, support urgent ordering and order expediting, provide unprecedented transactional and management reporting, reduce the cost of financial settlement by managing and paying suppliers, and provide you with a consolidated invoice containing all possible levels of detail.
To improve inventory visibility and management, our Store Room application can be added for a full-service solution. Companies benefit from standardized requisition and approval workflows, intuitive receipting and disbursements, and robust reporting that includes inventory valuation and physical cycle counts.
DSSI's Solution
DSSI performs sourcing work as part of a Purchase to Pay continuum and supports the on-going daily sourcing needs of our customers through RFQ and Spot Buy functionality. DSSI aggregates purchases across not only business units but across multiple clients to improve performance, provide better spend analysis, and drive business value. DSSI's purchase to pay solution provides an automated and managed solution from item requisitioning through financial settlement and reporting.Our purchasing capabilities are simply world class. We will host and manage your company specific catalog, simplify requisitioning, ensure proper controls using order approval and invoice reconciliation tools, provide up to the minute visibility into order status, support urgent ordering and order expediting, provide unprecedented transactional and management reporting, reduce the cost of financial settlement by managing and paying suppliers, and provide you with a consolidated invoice containing all possible levels of detail.
To improve inventory visibility and management, our Store Room application can be added for a full-service solution. Companies benefit from standardized requisition and approval workflows, intuitive receipting and disbursements, and robust reporting that includes inventory valuation and physical cycle counts.
Wrangling the Wranglers: Streamlining Purchase-to-Pay for Indirect Materials
Indirect materials, like the office supplies that keep your team humming or the cleaning services that maintain a healthy workspace, may seem innocuous, but managing their Purchase-to-Pay (P2P) process can be a logistical rodeo. Decentralized purchasing, inconsistent approvals, and manual tasks often lead to maverick spending, inflated costs, and lost visibility. Fear not, wranglers of the indirect, for P2P solutions are here to corral the chaos!Taming the Maverick Herd:
Traditional P2P systems focused on direct materials, but the tide is turning. DSSI solution empowers you to:- Gain Herd Visibility: Get a bird's-eye view of all indirect spend across departments, categories, and suppliers. Identify hidden costs and opportunities for consolidation.
- Rope in Maverick Purchases: Enforce company purchasing policies and automate approvals, ensuring adherence and eliminating rogue spending.
- Saddle Up Efficiency: Automate manual tasks like requisitioning, purchase orders, and invoices, freeing your team to focus on strategic initiatives.
- Negotiate Like a Champion: Leverage aggregated spend data to negotiate better deals with suppliers, driving significant cost savings.
- Ride the Data Trail: Gain valuable insights into your spending patterns and supplier performance, enabling informed procurement decisions.
Choosing the Right Corral:
Selecting the right P2P solution for indirect materials requires careful consideration:- Identify Your Needs: Define your specific challenges and desired outcomes. Choose a solution with features that address your pain points and offer relevant functionalities.
- Data Integration: Ensure seamless integration with your existing ERP, accounting, and other relevant systems for smooth data flow.
- User Adoption: Encourage user buy-in through training and ongoing support to maximize the solution's impact.
- Supplier Management: Integrate your P2P system with your supplier portal to simplify onboarding, communication, and collaboration with vendors.