Procure-to-pay automationAgile P2P offers an automated, rules-based P2P solution that delivers significant reductions 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 Agile P2P throughout the ‘procure-to-pay’ process to support and image-enable traditionally manual procedures. Improving your organization’s efficiency is your priority. Agile P2P is the easiest and most effective way to achieve your objective.
Benefits of Agile P2P
- Enhanced audit processes and regulatory compliance
- All documentation is easily stored, archived and retrieved
- Faster financial settlement cycle
- Resolution of discrepancies between requisitions, POs, and invoices
- Reduce manual processes by filing and delivering electronically
- Enhanced vendor rapport as files are easily referenced for negotiation
- Enhanced transaction-processing accuracy
- Shorter financial settlement cycles and reduced overhead costs
- Self-service requisition interface; employees access electronic requisition forms via the Internet; employees create and submit requisitions online via web form
- Agile 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
- Because the requisition data has been automatically validated, a requisition submitted via Feith’s Agile P2P solution will, by design, trigger your ERP to generate a PO
- Entered data integrates with existing inventory and catalog systems via 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.
- Constructs a hierarchal requisition approval process based on existing HR hierarchal data and existing signing limits from within your critical stores.
- Submit, validate, approve and track a requisition with little to no expenditure of additional human capital.
- Employees can check requisition statuses via self-service portal.
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 Agile P2P 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.
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). Agile 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 Agile P2P 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.
Feith’s Agile 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.
Feith provides an interface through which the user can access all relevant data. Agile P2P eliminates the P2P middlemen. No one is running to find the actual paper check, invoice or payment pack in general. Agile P2P connects it all for you.