Automating Procure to Pay (P2P)/ O2C process using SharePoint
Allied Consultants SharePoint P2P solution pack provides companies with advanced order management and billing methods standardized for their customers, suppliers and operations. As Procure-to-Pay (P2P) process is one of the cornerstones, identified in oil and gas industry, to create substantial business value via transparency and speed of decision making, our solution streamlines the P2P process empowering the procurement teams of O&G companies to accelerate cash flows, minimize risk exposure, increase profitability, and maintain price competitiveness from a global pool of contractors and suppliers.
Key features of the solution are:
- Real-Time Procurement Portal: A dashboard that connects all suppliers, customers and internal staff providing them with access to view all invoices, purchase order activities and billing information, including: invoices, TODOs for teams, discussions, policies. The portal also supports notifications and alerts, notifying the users instantly about invoice processing and POs.
- Supplier Management Centre: This feature supports contract management and workflow-oriented processing of each step in the process of vendor onboarding. The process may include creating sales orders, customer invoicing and billing.
- Vendor CRM Portal: A secure portal allows vendors to view and respond to RFQs, keep track of POs, and collaborate with customers.
- Web Portal: With this feature the supplier relationship management process is simplified as it unifies the communication process and improves the performance of various contractors for different spend categories.
- E-Request/ Order Processor: This feature allows users to generate PRs and POs automatically based on predefined ERP/ warehousing rules, including price updates, inventory levels, and date schedule.
- Strategic Tracker: Real-time tracking of invoice, PRs, and POs in the system, shared with vendors and customers to keep check of transaction status and discrepancies, if any. All comments and changes are audited, tracked and displayed on the dashboard (e.g. "Paid”, “Accepted”).
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Explore how IT can help your business by
- At least 35% cost reduction in transaction costs in P2P cycle
- Speeds up the business cycle by 61%
- 30-40% error minimization in invoicing and billing process
- Reduction in vendor response turnaround time due to integration of EDI engine, email, and automated fax
- Reduces cycle time: vendor payment processing
- Improves trading partner relationships and transactions by reducing 20% of time required on O2C cycle
- Tracks peak warehouse capacity used to avert delays and reduce customer backorder rate
- Fewer cancelled orders, fewer stock outs and less re-working of orders