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NotifyMe - Procure to Pay (P2P) ...

NotifyMe - Procure to Pay (P2P) Software Solution

FromNotifyMe Ltd.

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The NotifyMe Procure to Pay (P2P) software solution is designed to streamline and automate the entire procurement process within organizations. This software integrates requisitioning, purchasing, receiving, payment, and accounting functions into a cohesive workflow, thereby enhancing the efficiency of supply chain operations. By digitizing these processes, NotifyMe's solution reduces paperwork and manual handling, leading to fewer human errors and improved operational transparency. Built on the ColFlow TM Collaborative Workflow Engine, the platform offers customizable workflows to meet specific organizational needs, helping businesses manage complexity across various departments involved in procurement. Additionally, it addresses the integration of procurement with accounts payable, enhancing vendor communication and minimizing overall supply chain costs. The P2P system can also be customized with the support of a dedicated Business Process Optimization team, allowing for tailored process enhancements that align with unique industry requirements.

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NotifyMe P2P software solution brings together the procurement function with the accounts payable department, and connects the entire supply chain processes within a company.

The purchase to pay process, also known as the P2P process, is the process of requisitioning, purchasing, receiving, paying for, and accounting for goods and services, covering the entire process from point of order right through to payment.

P2P brings together the procurement function with the accounts payable department, and connects the entire supply chain processes within a company through the goods receipt process, and finally to the payment issued to the vendor.

The entire P2P process consists of many individual processes that take place across different parts of the organisation and involve multiple people. This introduces complexity and, at times, confusion, especially when the process is manual and paper based.

For companies of all sizes, optimizing the P2P process can reduce overall supply chain and inventory costs, increase transparency within your organization and improve the communication with the vendors. This process is foundational to the financial health and overall competitive strength of a business.

If the P2P process is manual, it takes more time and effort and opens the door to human error. Removing manual processes throughout the P2P process will result in better process efficiency and cost savings.

The P2P process itself can be broken into three main sub-processes:

The Purchase Order Process:

Purchase requisitions creation and approval
Vendor evaluation and selection
Purchase order issuance
Supplier PO acknowledgement

The Receiving Process:

Goods and services are received or executed
Receiving documents are reviewed and logged.

The Invoice Approval Process:

Invoices are received and invoice processing completed.
Invoices are reconciled and cross-checked with the original PO and goods receipts or receiving documents
Approved invoices are paid.

NotifyMe P2P software solution allows users to digitalize and automate the entire P2P process or parts of it, increasing efficiency and minimising potential errors. This helps increase transparency throughout the organization and the supply chain, and reduce overall costs.

Our P2P Management workflows are developed on the ColFlow ^TM Collaborative Workflow Engine and can be customized with the support of our Business Process Optimization team.