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If you haven’t evaluated or mapped out your company’s procure-to-pay (P2P) process recently, then you likely don’t have a complete view of all the steps in the process. In one 2017 survey, 69% of companies said they didn’t have full visibility into their supply chain, which is a key aspect of the P2P process.
The challenge: Too much paper, too much wasted time Piedmont Service Group was drowning in thousands of paper invoices and struggling to match them with purchaseorders. AvidInvoice provides 3-way matching to simplify and speed up processing. We can easily see what’s been paid and identify any holdups.
Consider the time and money spent manually entering a printed invoice into your accounting system, then continuously tracking approvals, the purchaseorder, and other details just to pay the vendor on time. And often, this manual process results in late payments. No payable is too small to double check.
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