Why is the Procure to Pay process so great?
With Microsoft Dynamics 365 Business Central, the Procure to Pay (P2P) process becomes so straightforward.
You can manage every step of the process from ordering and receiving through to the final payment. A single document can be followed throughout the entire process and accessed by everyone involved. You can streamline your procurement process and reduce the errors frequently caused by manual matching.
Business benefits of using Procure to Pay within Business Central
It’s a complete solution
Business Central is a complete ERP system and it includes all the elements in your procure to pay process. For example, the MRP document (material requirement planning), Purchase credits, purchase orders, purchase receipts, purchase invoices, payment journals and much more. Which of these steps fit your business model? Are they all implemented? Can we help you with this?
You can select the elements of the process that you need, and you can turn the feature on and off. Your Business Central processes can match the real-world process procedures. For example, you can choose whether to start with a purchase order or just capture an invoice. Often older accounting systems don’t allow these kind of end-to-end processes. Business Central functionality is always in the system, you just need to start using it to reap the benefits.
We all know that Business Central is fully integrated. While you’re doing any purchasing, you’re also controlling inventory/stock, bank ledgers and creditors ledgers. You can integrate your procurement and payment processes with Business Central’s built-in approval processes and workflows from improved control. Something to think about here is when you set up your processes, it’s important to decide how and where the approvals should be applied.
You can follow a single document through the entire process and remove the need for manual matching permanently. Every other user involved can also track the same document with ease. Manual errors often occur when there are multiple invoices being received by an organisation. Using document capture from Continia makes this even easier. Ask us about it.
So not only is Business Central integrated, it removes manual matching and reconciliation errors. You can also use the Auto Suggest Payment option, and trust that it will be correct. This reduces the amount of time spent on the system, allowing you to spend more time in the system analysing data and making infirmed business decisions.
Watch the Procure to Pay webinar
To learn more about this, watch our Procure to Pay webinar on demand where you can see an in depth demo from Ian Robinson where he highlights so many areas that could be used which not every Business Central user is aware of.
Did you know about, and are you using, any or all of the following:
- Replenishment tab
- Maximum quantity option
- Order planning & planning worksheets
- Requisition worksheets
- Suggest Vendor Payments
How can TVision help you?
TVision is one of the largest and most experienced providers of Business Central and NAV in the UK. If you want to explore how you can find the right way to use Business Central, and its Procure to Pay process, to increase your business effectiveness and learn and how TVision can help you implement it successfully, please feel free to contact us to arrange a demo.