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Procure-to-Pay, All the Way

Five Reasons you’re Missing out without a Procure-to-Pay System

Let’s be honest: procurement can be a nightmare.

Copying, pasting, sending, sorting. Huge lists of vendors, quotations in different file formats, and reporting systems that make you want to scream out loud.

Guess what? It doesn’t have to be this way.

It’s called procure-to-pay, and it’s here to stay: an easy-to-use platform for procurement managers to consolidate and manage the entire procurement journey, end-to-end, no fuss, no copying and pasting, no screaming.

The Penny procure-to-pay platform does it all for you, with total visibility on costs, timelines, reporting and workflow.

Here are just five of many reasons why you need procure-to-pay right now:

1. Slick automated approval workflow for requests

Throw your old request management system out the window. Procure-to-pay technology will automatically submit your request, and get it in front of the eyes of the right person for approval straight away. It’s so fast and so accurate, it’ll be like a first serve from Roger Federer.

The end result? A super speedy approval process for your requests, and less time waiting around for it to be sent to vendors.

2. Gathering quotations is fast, simple and automated

So you’ve already got a list of suppliers that you’ve worked with for a long time and who always provide an amazing service for you. But aren’t you tired of having to delve into the archives to pull out information on these vendors every time?

A procure-to-pay system will automatically recognise contracts and prices, and any sort of existing credit terms with your vendors. This will make you feel less like a librarian and more like a superstar procurement manager.

On top of this, the technology will automatically request and gather quotations from these vendors at lightning speed. And if you need to add new vendors, your procure-to-pay technology will do it for you, no fuss.

3. You can sort quotations logically, so it’s simple to compare them

Admit it. Copying and pasting quotations into Excel spreadsheets isn’t as glamorous as you thought when you first read your job description. So, don’t. A procure-to-pay system will do it for you. It’ll organise and sort your quotations in a table, and help you to make smart and insightful purchasing decisions. This is a massive shortcut to avoiding a lot of boring admin work. As soon as a supplier quotes you, your system will pre-populate your list, and you can sort them in a way that suits you best. Simple!

4. Makes billing and payments a piece of cake

Although you won’t be able to make payments directly from a procure-to-pay system (it’s not magic!), it can still give you full visibility over the billing and payment process, so you know exactly where you are with your suppliers. How does it do this? By putting all your due payments into one view, and tracking progress. From here, you can close payments once done, and pull insightful reports to help you spend and budget better in the future!

5. You can stay within the budget without breaking a sweat

You probably have to deal with the finance team moaning in your ear about budgets on a daily basis. A procure-to-pay system will help to shut them up.

It automates everything – from requesting quotations to monitoring and closing payments, and will help you to visualise the full procurement cycle, and your budget, with added insights. With supreme control and clarity over your procurement payments, you can track spending against the budget.

You can even manage macro and micro budgets for individual teams, so if you’re dealing with multiple budgets of different sizes and across different departments, you’ll still have total control and visibility.

With procure-to-pay technology, every expense is tracked, recorded and sorted!

How can you get your hands on a procure-to-pay system that can do all the above?

Getting started with Penny is easy – just give us a call or request a demo on our website and we’ll get you up and running in no time!

Any questions? Check our FAQs

We've compiled a series of FAQs for you to review, but if that doesn't answer your questions, get in touch!
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