Procure-To-Pay (P2P)
with BridgeLogiQ
BridgeLogiQ by Feith offers an automated, rules-based P2P solution that delivers an enterprise-wide reduction in transaction-processing costs. Streamline requisition, approval, and payment into an optimal workflow scenario... and enjoy a seamless transition from paper to electronic processes. Incorporate BridgeLogiQ throughout the ‘procure-to-pay' process to support and image-enable traditionally manual procedures.
Improving your organization's efficiency is your priority. BridgeLogiQ's automated P2P solution is the easiest and most effective way to achieve your objective.
Requisition
Self-service requisition interface; employees access electronic requisition forms via the Internet; employees create and submit requisitions online via web form.
BridgeLogiQ P2P automatically validates entered data against existing data stores and/or databases; validating data is entered against your existing ERP system to ensure accuracy of outgoing information.
Entered data integrates with existing inventory and catalog systems via BridgeLogiQ's cascading list search capability.
Employees can attach and submit attachments of any type with their online requisition form; include a picture or specifications with the requisition for additional order explanation, etc.
BridgeLogiQ constructs a hierarchal requisition approval process based on existing HR hierarchal data and existing signing limits from within your legacy stores.
Employees can check the status of their requisitions via the self-service status portal.
Because the requisition data has been automatically validated, a requisition submitted via Feith's BridgeLogiQ P2P solution will, by design, trigger your ERP to generate a PO.
Submit, validate, approve and track a requisition with little to no expenditure of additional human capital.
Purchase Order Processing
POs materialize from the entered data and are then archived automatically in the FDD records management system. Each PO generated by your ERP is also connected with an indelible image of its originating requisition.
Desktop Receivers are created on the shipping dock or directly from the requisitioner's desktop using the BridgeLogiQ desktop receiving portal. Simply put: An employee receives the order; he/she accesses the online receiving portal and marks that particular item as received. Receiving documents are created by a single-purpose interface; when the invoice comes in, it is paid automatically.
No need for your AP person to track you down for status or confirmation - your employee handles the receiver him or herself.
Invoice Capture
Invoices are received from multiple sources, whether email, paper, fax, EDI, XML or SOAP (Simple Object Access Protocol, a client-independent notification message between applications). BridgeLogiQ P2P does not discriminate between sources, it accepts them all.
Invoices are routed automatically to their appropriate users and tasks based on their header data as well as on existing ERP information.
In non-PO scenarios, users are given an approval response form driven from the BridgeLogiQ portal (POs have already been matched and automatically approved in system).
The invoice is driven through a hierarchal approval flow and then joins its corresponding P2P documents in the payment package.
Invoice Payment
Feith's BridgeLogiQ P2P offers an interactive payment register AND check run register which allow users to access the complete set of check register information and indelible images of all the related documents via hyperlinks.
Payment registers are driven through approval hierarchy for review and compliance.
Check reviewers have all the information they need at their fingertips because any and all documentation related to a particular requisition is linked to the check run.
Payments are triggered automatically and checks are cut through your own ERP system, as usual.
Feith provides an interface through which the user can access all relevant data. BridgeLogiQ P2P eliminates the P2P middlemen.
No one is running to find the actual paper check, invoice or payment pack in general. BridgeLogiQ connects it all for you.
BridgeLogiQ P2P Features
Workflow - The most comprehensive and flexible workflow product on the market. Feith's Workflow iQ makes your business processes more efficient and responsive by automating the flow of information throughout any and all departments within your organization. Eliminate administrative bottlenecks and streamline your critical procedures.
Web Forms - A dynamic web-based electronic forms solution. It's a simple way to make your business process "open to the public." Feith's Forms iQ offers an easy interface that allows you to create a web form in seconds, and even initiate a business process. Create rich, dynamic web forms to capture information from your vendors or from your company's authorized users.
Records Management - A fully integrated and automated records management solution. Both electronic and paper records are managed and disposed of based on industry and government regulations (DoD 5015.2).
High Volume Scanning - Objects are sent through your scanner and converted to images. Images are indexed according to user-generated values, or via bar code scanning and processing, where bar codes are assigned to the objects and archived according to pre-valued criteria within the bar codes themselves. Captured objects become indelible documents and are now manageable, retrievable and deliverable AND they can be set to initiate a workflow in your business process.
Automatic Data Capture - FDD's ERM/COLD feature automatically indexes and directly stores computer-generated reports. Documents are storedand indexed automatically into the same File Cabinets as scanned images. Overlay data on your forms automatically combine with ERM/COLD data to create PDF files. Feith's COLD Configurator allows you to simply highlight information in your ERM/COLD report to create a configuration file.
Document Imaging - Capture, manage and distribute your valuable content throughout your organization. Feith Document Database (FDD) offers a versatile object repository that stores everything from scanned images and faxes to application files, electronic communications, CAD drawings, videos and forms generated by Feith's Forms iQ.
Why Do You Need BridgeLogiQ's P2P Solution?
The traditional ‘procure-to-pay' (P2P) process is extremely paper-intensive and costly as it involves the manual processing and distribution of large numbers of documents. Manually keying data onto pre-printed stationery and relying on paper documents is too costly a manner by which to generate and distribute purchase orders (POs) and checks. Similarly, when vendor invoices arrive, manual-intensive and paper-based internal processes drain corporate resources. The costs associated with the retrieval and storage are approaching prohibitive, especially in light of Sarbanes Oxley and other auditing regulations.
Benefits of BridgeLogiQ's P2P Solution
Enhanced audit processes and regulatory compliance, as all the documentation is easily stored, archived and retrieved electronically by user-generated index values.
Faster financial settlement cycle which results in more timely budget and financial data on which sound business decisions can be made.
Expedient identification and resolution of any discrepancies between requisition forms, POs, invoices and other transaction information as account data moves through your rule-based workflow.
Significantly reduce paper use and waste by filing and delivering documents electronically. BridgeLogiQ eliminates the need to print file copies. Reduce energy consumption by eliminating paper from your P2P process. Go Green!
Enhanced vendor relationships and business continuity as electronically-stored documents are easily analyzed, backed up and stored for future reference and negotiation.
Quick realization of your ROI: By integrating BridgeLogiQ into your organization's P2P process, your organization will enjoy enhanced transaction-processing accuracy, shorter financial settlement cycles and reduced overhead costs.
