Pushing C-Suite Leverage Through Ptp Process Software
PTP PROCESS DISCOVERY
Organizational performance is largely governed by the optimization of the Procure-to-Pay (PTP) process. Enterprise scale software solves for the manual labor intensive process underlying accounts payable and receivables, allowing for streamlined and efficient operations. With the help of Source-to-Pay (S2P) software, organizations can improve operational performance across the board.
At the core of S2P software lies process automation and uniformity. Each payment that feeds into the enterprise’s cashflow is fetched and stored in the software, ensuring data accuracy and uniformity of record keeping. Further to this, it allows system-wide access to payments, stored in organized lists of invoice records, thus increasing transparency and accountability.
Moreover, S2P software is one-stop destination for payment and record keeping. As well as providing repository of cash transactions, the software automatically evaluates tiered payment requirements, enabling precise calculation of the days sales outstanding (DSO). This further propels the organization in optimizing their return on investment (ROI).
From the C-Suite perspective, the adoption of S2P software allows for greater degree of control and oversight when it comes to managing internal processes. The software’s intelligence-backed reminders and alerts notify the CFO of any irregular activity or impending deadlines. In addition, the software allows for regular reports on payment status and the incurred expenses, thus enabling the CFO to make informed decisions on payments and budgetary control.
In reverting to traditional manual paper processes, organizations risk opening the door to financial discrepancies and disparities that can potentially snowball into immense losses. By leveraging S2P software, organizations can have greater confidence in the accuracy of financial records and cashflow optimization. As such, S2P software allows for an unprecedented amount of control and oversight over the PTP process allowing for greater accountability and improved performance.
