Procure to Pay (P2P)
What are the benefits?
- A ‘click-to-buy’, online purchasing experience for users with faster integrated ordering and the ability to search for and compare like-for-like products.
- Improved material/product management information (support supplier negotiations).
- Removal of the need to key information into SAP or contact suppliers directly.
- Ability to create limit orders to manage financial commitments throughout the year, e.g. for quarterly payments of annual contracts, etc.
- Improved reporting for better budget management.
- Non pay savings for the University in the region of £2m p.a. through for example, a significant reduction in prices paid for goods and services, realisation of early payment discounts, etc.
- Environmental benefits – reduction in deliveries/paper/physical storage.
- Electronic management of paperwork required for audit purposes.
- Improved efficiencies for suppliers with one point of contact for invoice queries.