Purchase to pay automation

Control, regulate and automate your company’s purchasing policies. Automated purchase-to-pay requisitions with complete visibility to the expenditure request. Reduce indirect spend.

What is purchase-to-pay?

Purchase-to-pay, often abbreviated as” P2P”, refers to the complete process from ordering to the payment of a product or service. This includes:

  • Sourcing
  • Requisitioning
  • Purchasing
  • Receiving
  • Paying for

Procure-to-pay & Source-to-pay

Purchase-to-pay is often used interchangeably with procure-to-pay, while they are similar, the term procure-to-pay does not include the sourcing process. A direct synonym of purchase-to-pay would be “source-to-pay”.

“Palette has enabled us to enhance our invoicing processes and efficiencies without the need for a larger finance team, and at a highly competitive price point compared to other solutions. It has provided greater transparency over accounts payable activity across the entire organization, enabling us to have a much tighter control over operations, more closely monitor KPIs, track payments and have a greater ability to manage volumes of work.”

Diane Stack • The Boston Globe

What does the purchase-to-pay process look like?

The purchase-to-pay process consists of a large number of individual processes spanning across several parts of the organization, involving multiple people. This introduces a high level of complexity, and often at times, confusion. Performing the purchase-to-pay process manually requires a lot of time and resources, where human error is always a risk factor. Instead, a company can opt for purchase-to-pay automation, negating all the challenges a manual process is associated with.

Benefits of purchase-to-pay automation

Control, regulate, and automate your company’s purchasing policies. Automated purchase requisitions with complete visibility to the expenditure request. Reduce indirect spend.

Efficiency is increased with each element that is automated, which contributes to increased control and profitability. Our purchase-to-pay solutions assist you on the path towards full automation, so you only need to spend time on exceptions that arise.

Improved structure for your supplier invoices

Maximize the automation of your invoice management by allowing Palette’s purchase-to-pay software to match invoices with purchase orders or contracts. Direct resources towards exceptions and free up time for higher-value work.

Save time and money for the entire organization

Make it easier for both managers and employees to manage purchases, invoices, and expenses. Reduce your administration in the finance and purchasing departments.

Increased control and lower costs

With automated purchase-to-pay software, it’s easier to purchase the right product from the right supplier and for the right price. Approve the purchase order instead of the invoice and achieve full cost control before the purchase takes place!

Key features of Palette’s purchase-to-pay software

Review and approve the purchase order instead of waiting for the invoice to arrive before signing off on the purchase. With a user-friendly system for purchase-to-pay, you steer the purchase towards selected suppliers, lowering both costs and time spent on the purchasing process. Administration is reduced for the purchasing department, which can devote more time to negotiate favorable agreements and discounts.

When purchasing and invoice management are digitally transformed, a large amount of data becomes accessible. With Palette’s purchase-to-pay solutions advanced functionality for analysis and reporting, it’s easy to work with the key ratios that grow your business.

Examples of information that can easily be accessed by Palette include total spend per supplier, average invoice processing time, payment forecasts, budget vs actual spend, and many more reports that can be produced with just a few clicks, and the results are in real time.

Cloud service or local installation

Palette’s Cloud solution contains all the product features needed to automate the entire process from purchase to pay.

With our cloud service, you receive a cost-effective, secure, and scalable solution without the need to invest in hardware. Operation, maintenance, and upgrades are included and are carried out by Palette’s technical specialists.

Our purchase-to-pay cloud solution includes all the functionality required to automate the entire process, and you only pay for the parts you use. Automate invoice management first at your own speed and then link in purchases, agreements, and expenses.

Trusted by Banks

Palette is trusted by banks and financial institutions in the US and Europe. Accreditations in the US include SOC1, SOC2, HIPAA, ISO 27001, GDPR, and PEPPOL.

Palette is a configurable, modules-based solution available on-premise or in the cloud.

  • Global solution for multiple ERPs, countries, currencies, and tax rules
  • Unlimited users—no user license costs
  • Bulletproof compliance control and minimal IT involvement

Are you ready to take the next step?

Let us know what problem are you looking to solve.