P2P Solutions
Purchase-to-Pay (P2P) Solutions to optimise your finance operations and strategies
PURCHASE TO PAY: DO MORE WITH LESS
P2P Solutions
Making P2P work for your Organisation
Processes: Broken Processes
People: Stakeholders Engagement
**Technologies: Compliance & Control **
Due to the cross-functional aspects of Purchase to pay Processes, it is important for organisations aiming for a synchronised and controlled process lifecycle to assign a a process and data analytics expert (P2P Global Process Owner) to oversee the full end-to-end - your organisation will benefit from risk-free continuity of service with no need to re-explain your business context for every new strategic contractor and without the cost of a senior member of staff.
P2P Solutions
Improving Vendor Master Data Quality is Essential for P2P Success - And We Can Help
EFFICIENT
COMPLIANT
COLLABORATIVE
VISIBLE
Why?
Inaccurate and haphazard maintenance of the master data leads to many issues, P2P stakeholders time wasting during purchasing or payments, breach of compliance for the sake of speed or convenience, conflicts within the organisation and with your suppliers. It impacts your ability to pay your suppliers on-time, accurately, and the reliability of your financial records
Legal & Fiscal Risks
Inaccurate or incomplete data negatively impact financial reports
Regulatory fines and penalties + VAT leakage
Audits red-flags can draw added scrutiny, penalty fees, costs of remediation
Increases risks and incidence of frauds
Key Benefits
Having an up to date VMD helps get a clearer picture of your suppliers and partners, it is a cornerstone to strategic prioritization of your operations and service excellence delivery. It drives reliable reporting, timely and accurate payments as well as quality controls and an overall improvement of the general business environment
Results
Smoother Supplier on-boarding
Optimized supply chain - Cost effective & Efficient Procurement
Reliable Spend Management reports
Reliable Financial Reports
OUR SOLUTIONS
Sanitize
A full cleansing exercise that entails:
Identify, inactivate or merge all duplicate records.
Correct invalid data, Complete missing data & Update old data.
Create controls to govern VMD process
Stabilize
Design standard procedures such as:
Establish Standards Operating Procedures
SOD controls (Segregation of duties).
Formalize controls to ensure correct and complete recording of data.
Optimize
Strengthen controls and compliance
Establish automated control to validate supplier data at inception
Identify and mitigate vendor fraud and risks
Implement Supplier self-service and attestation
P2P Solutions
Operations Excellence - Essential for P2P Success
EFFICIENT
COMPLIANT
COLLABORATIVE
VISIBLE
WHY?
Invoice Processing is labor-intensive, time-sensitive and costly, it is also the most error-laden tasks due to heavy reliance on manual activity.To compound the issue, most organisation do not have a set standardized approach to vendor invoice management.The ability to quickly and effectively digitize invoices and automate the entire invoicing process brings significant benefits to the enterprise.Our holistic approach to accelerate the invoice lifecycle cuts the average invoice process time from 20 days to less than 4 days of the invoice date.
OUR SOLUTIONS
Improved Vendor Management
Improved Scanning and scanning
Invoices Approval improvement
Invoices Payment
Vendor Master Data
Direct Debit Management
Policies
BENEFITS
Improved OCR read rate
Improve coding accuracy
Improve PO matching
Better document management
Better exception handling
Reduces the number of late payments and potential risk of business disruption.
Less FTE (resources) required
Improved OCR read rate
Improve coding accuracy
Improve PO matching
Better document management
Better exception handling
Reduces the number of late payments and potential risk of business disruption.
Less FTE (resources) required
P2P Solutions
End-to-end process ownership is one of the most critical enablers of P2P operational excellence.
MORE WITH LESS - ACHIEVE PROCESS EXCELLENCE!
EFFICIENT
COMPLIANT
COLLABORATIVE
VISIBLE
WHAT IS A PURCHASE TO PAY GLOBAL PROCESS OWNER?
The GPO is the glue that brings everything and everyone together. As such, the GPO is the alignment person for all the stakeholders in the P2P framework and the collaborator to relevant C-suite executives to ensure that there are no gaps in strategy, in decision-making and ultimately in execution.
No one else touches all the parts of the end-to-end scope of P2P in the way that the GPO can.
WHY?
Due to the cross-functional aspects of Purchase to pay Processes, it is important for organisations aiming for a synchronised and controlled process lifecycle to assign a a process, digital technology and data analytics expert (P2P Global Process Owner) to oversee the full end-to-end.Your organisation will benefit from risk-free continuity of service with no need to re-explain your business context for every new strategic contractor and without the cost of a senior member of staff.
Furthermore the P2P GPO designs, enacts, monitors and ensure the end-to-end process flow within the P2P framework is operated in a consistent and standardise way
The P2P GPO Environment
When a global process owner (GPO) oversees the full framework of activities and sub-processes within a stream; companies gain the benefits of optimal outputs, even in complex environments such as shared services, outsourcing, and retained organization operations.
P2P GPO BENEFITS
Our P2P process management and global process ownership ensures:
Excellence and consistently improving performance in terms of costs, compliance, and insights.
Drive a decrease in overall operating costs while increasing quality and speed of execution.
Create visibility into any duplication or conflicting efforts to remove wastes within the P2P scope, eliminates territorial barriers, enabling change that may be required to meet business objectives.
Identification of improvement opportunities, implement changes faster, and merge new systems and processes with minimal disruption to day-to-day activities.
Our approach to P2P strategy always combines high level strategic initiatives and operations excellence implementations to ensure business success. We have been successfully leading P2P Projects for more than a decade and have helped many companies through their P2P transformation journey.
P2P Solutions
End-to-end process ownership is one of the most critical enablers of P2P operational excellence.
MORE WITH LESS - ACHIEVE PROCESS EXCELLENCE!
P2P Solutions
End-to-end process ownership is one of the most critical enablers of P2P operational excellence.
MORE WITH LESS - ACHIEVE PROCESS EXCELLENCE!
EFFICIENT
COMPLIANT
COLLABORATIVE
VISIBLE
P2P Solutions
Finance and procurement leaders need to have a clear view of the overall network of vendors, suppliers, and service providers with which the organization does business. And it is very hard to do if the records are incomplete, outdated, or unnecessary duplicate records are entered into them.
P2P Solutions
Finance and procurement leaders need to have a clear view of the overall network of vendors, suppliers, and service providers with which the organization does business. And it is very hard to do if the records are incomplete, outdated, or unnecessary duplicate records are entered into them.
P2P Projects - Expertise on-demand
Vendor Master Data Services
Suppliers data changes over time and are simply not fully completed in the system due to legacy processes or issues. Inactive, incomplete and duplicate vendors drive up process deviations and turnaround time as well has inaccuracy in the reporting. We review and cleanse the Vendor master data (VMD) and provide VMD mass updates.
P2P End-to-end Process Optimisation
Optimise your Purchase-to-Pay (P2P) Process by providing seamless and frictionless integration into your existing system.
Accounts Payable Audits
Our audit service provides in-depth analysis of your outgoing payments, potentially saving your business millions. We review all payments to identify unintentional payments. We also uncover all potentials cash leakage balances, unclaimed VAT and missed cash discounts.
Compliance Audits
Review and rationalise data vs company policies to identify compliance issues and implement guiding principles to drive up compliance bot within the organisation and your P2P external stakeholders
P2P Expertise - Continuous Improvement
To be able to make decisions within any organization, clear insights and objective information are vital. Thanks to our state-of-the-art algorithms and data mining, we can spot weaknesses in your P2P processes and offer customized advice on specific areas of improvements.
Increase P2P control
Procure to pay processes can be negatively affected by omissions, mistakes and lack of visibility that can lead to substantial loss of net earnings.Through in-depth analysis of your processes, we will help you to
P2P Stakeholders Engagements
We design and implement communication lines between internal stakeholders to improve engagement and collaboration. We also open up communication lines and suppliers managements framework for strategic suppliers to cut-down on escalations, urgent payments and business blocks
Increase P2P control
Procure to pay processes can be negatively affected by omissions, mistakes and lack of visibility that can lead to substantial loss of net earnings.Through in-depth analysis of your processes, we will help you to
Spent Management Strategies
Turn your cost centre into a profit centre
It’s important to look back at what you’ve spent. However, it’s even more important to learn lessons and prevent future losses, as well as optimizing future spending.By using state-of-the-art data mining and unique algorithms.
Consultancy and reporting Service
We have extensive knowledge in the field of P2P processes. We help design and implement a P2P strategic and operations structure that would guarantees consistency within the processes and the policies. We periodically review and oversee the process and the data lifecycle to ensure compliance, turnaround time, and visibility for optimal service delivery and to drive up engagement and control risks.
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P2P Solutions
Finance and procurement leaders need to have a clear view of the overall network of vendors, suppliers, and service providers with which the organization does business. And it is very hard to do if the records are incomplete, outdated, or unnecessary duplicate records are entered into them.
Whether advising on strategy, improving current processes or designing and implementing a new operating model, we can help.We can provide interim P2P Expertise cover, operations mentoring to existing personnel, or direct ongoing assistance to organisation in need of advice but cannot justify a full time P2P Process Owners.Sometimes referred to as a "Fractional P2P Process Owner", "Consultant P2P GPO", P2P-on-demand", or "CTO as-a-service", this approach allows your organisation to benefit from the experience of seasoned P2P Global Process Experts at a fraction of the cost of a full time resource. Better and CheaperWe understand how to make Purchase to pay work for organisation and vendors.
Other benefits of high-quality vendor master data include:
The better you understand—and more accurately you keep track of—your partners and suppliers, the more readily you can give them what they need, including prompt payment, rapid provision of records and reporting, and efficient ordering.
Smoother technology transformation projects, including easier enterprise resource planning (ERP) system upgrades and migrations (such as to SAP)
Maximize supply chain cost effectiveness and procurement efficiency
Ease vendor account maintenance
Better tracking of digital supply chain and trusted business partners
More accurate tax reporting
Vendor Master Data Is a Key Unlocking Relationships Within the Business Ecosystem
Why Improving Vendor Master Data Quality is Essential for P2P Success - and How Our Solutions Can Help
When your vendor master data quality isn't up to date, P2P stakeholders lose time, the organisation lose money, and relationships suffer both with the vendors and within the organisation. In particular, the accuracy of your vendor master data impacts your ability to maintain correct financial records and control costs, and it determines how well you understand the business ecosystem you inhabit.
Poor Quality Vendor Master Data Creates Legal and Financial Risks
Inaccurate or incomplete data negatively impact spend visibility
VAT leakage
Regulatory fines and penalties
Can invite audits results and impact scrutiny
Makes the business more vulnerable to fraud
End to End Business Consulting Solutions!
Our Consultants have extensive experience and an in-depth knowledge of digital transformation and process digitalization projects, and will share with you our Best Practices obtained from supporting over 15,000 Clients worldwide including Fortune 500 Companies and Industry-Leaders. ivi Consultants have professional backgrounds at the world’s leading Consulting Firms advocating digital solutions such as the ivi P2P Solutions, which enable inherently new types of innovation and creativity, rather than simply enhancing and supporting traditional analogue methods.
Implement and Manage Digital Transformation!
Change in a business environment is never easy, especially when you are taking the giant leap from analogue to digital. No matter where you are on your digital transformation journey, we will pinpoint the most effective migration strategy for the transition from the current analogue and manual processes for receiving and processing hard-copy Supplier Invoices to the digital and automated receipt, conversion, and processing of Supplier Invoices via the ivi P2P Solutions, guaranteeing optimized potentials and Employee benefits.
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