In today's fast-paced digital world, public sector organisations face growing pressure to do more with less. Panacea’s Purchase-to-Pay (P2P) system offers a smart solution, revolutionising payment processes to deliver unmatched efficiency, security, and compliance.
Traditional procurement cycles can be mired by inefficiencies, errors, and unnecessary costs. Panacea’s phenomenal P2P solution addresses these challenges head-on, empowering organisations to focus on what truly matters—delivering value to their communities.
So how does Panacea P2P improve efficiency and save costs?
Many areas of manual purchase order creations can be automated, like data entry and payment processing.
Panacea’s P2P ensures…
Faster order cycles with fewer errors, enabling every step— from requisition to payment— to be completed securely and effortlessly.
Automated workflows that significantly reduce administrative time and costs.
Smart analytics to identify the most cost-effective suppliers.
Bulk pricing negotiation options to maximise value and make your budget work harder.
Integrated invoicing so that suppliers can submit invoices directly into the system, enabling faster, more accurate payments through automated processes.
Seamless finance integration, ensuring Panacea’s P2P interfaces with finance systems to automatically send commitment, invoice, and charging information, providing complete financial visibility and accuracy.
What’s more?
Centralised Catalogue: Access a tailored catalogue of approved goods, works, and services to ensure compliance with both internal policies and external regulations.
Slick Receipting: Easily confirm deliveries—partial or complete—against specific purchase lines for accurate and reliable record-keeping.
Automated Pricing: Generate purchase requisitions with pre-defined pricing or quotes.
3-Way Matching: Panacea’s P2P ensures a robust 3-way matching process—aligning purchase orders, invoices, and receipts. This automated verification reduces errors, prevents overpayments, and guarantees that only valid transactions proceed to payment.
NB: Panacea’s Purchase-to-Pay module seamlessly integrates with our Core Project Management and Sourcing Modules, consolidating end-to-end source-to-pay activities in one place - get in contact to find out more today!
How do we achieve the utmost quality through Panacea’s P2P software solution?
Improved compliance
Real-time purchasing is tracked, making it easier to monitor and control spending. A full audit trail is maintained throughout the process, capturing every action from requisition to payment, for complete transparency and accountability.
Build supplier relationships
Form trust in your supplier relationships with on time payments and precise invoicing to encourage favourable payment terms. Keep in touch with your suppliers with Panacea’s communication tools – avoid dispute resolutions and create a more interactive and positive supplier experience.
Reduces Risk of Fraud
P2P provides real-time visibility throughout entire procurement cycle, reducing the risk of fraud and unauthorised purchasing. The purchase order process is fully automated with detailed logs, traceable transactions and real-time status tracking.
Comprehensive Reporting
A clear audit trail with real time data tracking and analytics helps identify trends, so forecast strategies can be adjusted where needed. This capability means businesses can sustain operational efficiency during times of growth and expansion, easily navigating changes in a dynamic market with agility and resilience.
Financial Control
Link spending directly to contracts within Panacea’s P2P system, ensuring purchases adhere to agreed terms, reducing maverick spending, and improving financial control.
Our Panacea solutions are always constantly developing, enhancing and improving!
Find out how Panacea can transform and modernise your Purchase-to-Pay system and take efficiency to the next level here
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