Procure-to-Pay Automation

Automate your purchasing processes and stamp out maverick buying.

Procure-To-Pay Automation

Corporates in the region have clear incentives to cut down the administrative time invested in their AP/AR processes, recognising the benefits that would flow through to their business. They strongly agree that receiving additional data with each transaction would significantly benefit their business.*
* Visa Cash Flow Visibility Index 2016 (A survey where a total of 806 of the top 1,000 revenue ranked corporations across Australia, Mainland China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Singapore and Taiwan were interviewed)

The capability delivers an integrated solution set to automate an organisation’s procure-to-pay process. The solution set includes granular spend data analysis, compliance focused strategic sourcing capabilities, supplier managed web content and touch-less eCommerce payment functionality. It is highly functional and intelligently reconciles purchase orders, contracts and invoices, ensuring that the purchasing and finance departments have the knowledge and data in real-time to continually optimise all procurement activities across the organisation.

How does P2P automation work

Procure-to-pay capabilities cover strategic sourcing, contract management, order placement (including supplier-managed web content), touchless eCommerce payment and settlement, reconciliation, reporting, control and audit, and analysis of the entire procure-to-pay process. Authorisation controls are built-in to ensure that payment is exact in terms of amount and purpose.

By analysing your spend detail, these capabilities help to assess compliance when raising purchase orders, as well as price variances for the same product with volume discounts and global price benchmarks.

Visa’s 16-digit accounts assigned to each of your key suppliers can help them to receive payment. A supplier onboarding process will also be managed so that they, in turn, can process card payments and reconcile receivables without altering existing business practices.

Benefits

Strategic Sourcing and Favourable Deals

Electronic reporting helps you better analyse what you are buying and from whom, allowing you to streamline your key suppliers. This can translate into greater business revenue for your suppliers so you can enjoy higher levels of strategic sourcing and more favourable negotiated pricing.

Building Stronger Relationships

As a buyer, you want the assurance that key suppliers stay in business. With Visa’s 16-digit account, your key suppliers can get paid sooner thus reducing the cost of funds. Suppliers are relieved of the stress associated with buyer’s credit worthiness, check acceptance risks and the costs of tracking late payments and collection.

P2P Automation brochure

Learn more about the services Visa can provide.

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Make the change now

Graphic showing the two-way flow of cash flow management

Seize the full benefits of Visa’s procure-to-pay automation with minimal or no disruption to your existing business systems or processes:

Streamline your procurement and payment processes, organise invoices from multiple suppliers with different information into one consistent file
Support payment and reconciliation when payments are made through Visa’s 16-digit account and highlight any inconsistencies and inaccuracies to suppliers
Get credit extension of up to 55 days; settle your Visa account only when the consolidated bill comes, increasing flexibility and access to funds as working capital
Track re-invoicing and outstanding invoices through supplier accuracy reports; avoid potential human error leading to conflict, payment and reconciliation issues
Close the loop once your supplier receives payment. Your ERP system will check off the payment
Build in corporate rules and requirements into the system to ensure that compliance is maintained

Let Visa and your financial institution do the heavy lifting so that you can focus on growing your business.

Procure-to-Pay Automation