Here are seven of the top procure-to-pay solutions, as rated by users and tech research companies such as Gartner (developer of the Gartner Magic Quadrant) and G2: 1. 7 top solutions for streamlining procure-to-pay And because a procure-to-pay system works in the background 24/7, investing in a platform typically results in net savings for the procurement budget. Procure-to-pay software removes many barriers to efficient and optimized purchasing and creates better systems to free up your teams for higher-level activities.

Strengthening the supply chain through strategic sourcing and timely payments.

Maintaining contract management and improving supplier relationships.

Paying vendors quickly and efficiently through an integrated payment platform.

Automatically batching, coding, three-way checking, and processing transactions.

Routing purchase approvals through the appropriate channels and prerequisite lists.

Empowering stakeholders to create purchase requisitions and purchase orders independently.

Using procure-to-pay software, stakeholders accomplish many things: Processing takes more time, mistakes rack up unnecessary spending, and teams increasingly feel the burden of running a system by hand. As companies grow, the problems associated with manual processes compound. Manual purchase-to-pay systems are time-consuming, costly, and frustrating for your teams.

Read on to learn about these first-in-class options-but first, let’s look at why you might need them.ĭownload the free guide: Choose the Right Procurement Technology With This Decision Matrix Why do you need procure-to-pay software? With many competitors on the market, choosing a provider that matches your business use case and stage is crucial to your success.īelow, we’ve shared the details of seven of our top picks for procure-to-pay (P2P) software. Implementing a software tool to transform your procurement process isn’t a light task. Purchasing and accounting functions often lag behind other departments in digital transformation, but these areas are ripe with opportunities to optimize and automate. Over 60% of executives call digital transformation their most critical growth driver in 2022. More companies are looking to SaaS software to streamline their business processes.

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