Plug and Play ERP: Transform Your Procurement Function with TYASuite Procurement to Pay Software

 A Brief Outline of the Procurement-To-Pay (P2P) Process

In general, the term used to define a business process and not software or technology; it’s a process of agreeing to terms, acquiring goods by the tendering process. It includes Requirement Generation, Requirement consolidation, Vendor Evaluation, Purchase Order Generation, Receiving Goods or services, Recording of Invoicing and payments. Organizations may spend well more than revenue if the procurement process is not managed well. IT even leads to a big loss for organizations financially by lacking procurement strategy.

Over the years, the Procurement process life cycle has transformed in many innovative ways with the help of technology from On-Premises ERP to cloud ERP solutions that manage well from anywhere and affordable for everyone.

Manual Procurement Process takes time and boring tasks

The manual bookkeeping accounting process normally completes the tasks for the time frame of 5 to 7 working days for filling out manually requisitions to payment. The trend has been changed from manual to On-site software and hardware. It also comes with initial infrastructure costs.

The Procurement to pay, which the business inquires and receives the request from the purchasing department and then payments for the Services and goods. The process is based on fulfilling the needs of the company for goods and services. This whole is time-consuming and boring it doesn’t have well manageable procurement software.

The major Steps involved in Manual Procurement Process across industries 

Managing suppliers is the procedure in the business to select an appropriate provider for their orders.

Selection of the provider is based on the tariffs of the precise goods or services that the

Business needs.

Request for the product is the inside process in the business when the purchasing unit is officially getting approval after the right authentications from other departments

Purchase order is an official document that covers the exact order of the different items. The number of goods or material is stated with the necessity of the business  

Receiving order accommodating the goods that you have well-ordered. Throughout this course, you must have to check the quality of the goods so that the vendor gets notified if any issues.

Invoice reconciliation a business checks its purchase order and invoice provided by the vendor to make sure the prices ofthe goods and services. 

And other steps include inventory management, contract management and vendor management. Which is manually done in the past and some business still doing it, that’s why it’s called “Boring tasks” and time-consuming.

Benefits of digitizing your procurement operations in modern Procurement to Pay Process

According to the latest study, some businesses are slow to follow the modern procurement trend. Business owners are not comfortable with implementing ERP software due to their fear of implementation costs and transition. The primary reasons are Lack awareness of the cost savings after successful implementation and time of implementation.

Some Organizations think that the latest processes are an efficient and controlled process. But, the most centralized processes are the combination of both manual and electronic systems also called Hybrid system.

But with time, new enhancements have been implemented to the overall procurement processes

However, cloud-based procurement to pay software is greatly used in organizations and it is efficient to perform all function the procurement such as purchase requisition, purchase orders, receiving goods, invoices and payments. Automation plays a key role in the organization to reduce the risks of ad costs.

Many Organizations, who are using Procurement software well, integrate with Accounting software that runs well and performs efficiently.

The advantage of using software is that you will automate your workflow with accurate results.These are the top benefits things that will help to improve the efficiency of the Procurement Process

·       Execution of procurement -to-pay software will minimize the risks and provide higher                      profit margins.

·       Transparent process: You can resolve any kind of issue online.

·       Better Connectivity with the supplier: When everything works in a systematic manner.

·       Enhance inventory:  better management of the inventory of the goods.

·       Superior contract management: Manage different suppliers at a time.

  

Plug and Play Cloud ERP Transformed Procurement system

Companies does not prefer to go to Complex ERP solutions, but in favor of ready-built platforms such as Plug and Play ERP solutions, which is already built based on market needs and far efficient that the Complex ERP solutions, that takes 3-6 months implementation time.Every organisation looking out to for cost-effective solutions to access to more options to improve connectivity across departments.

Key benefits of Plug and Play Cloud ERP Solutions  

• The implementation time in days not months
• Seamlessly integrated between different systems 

Transform and automating your procurement process with TYASuite P2P Software

TYASuite Procurement to Pay (P2P) is a cloud-based suite that manages your organisation procurement process, from purchasing to payments with ease. The platform helps Businesses (B2B or B2C) modernize to give more control, visibility ensures stability It improves the complete life cycle. 

Key Benefits TYASuite  P2P Platform is summarized below: 

1) Seamlessly automating entire Procurement to Pay Function

Entire procurement to payment process of a business can be automated through this platform. 

2) Plug and Play Platform

More than 2000 plus plug and play features can choose from the dashboard, the business can go live in a few days,

3) Free Trial 

Businesses can take benefit of the free trial period without any upfront payment and ensure that the software will fit your company needs.  

4) Affordable Price 

Companies can take advantage of the platform can save up to 75% and extend the benefit to other departments /processes like Inventory management, Asset, and warranty management, Project Management, Compliance Management, Finance Modules and many more. 

Streamline your Procurement by automating the entire process

Below are the top reasons, which make to show desire on TYASuite P2P Cloud ERP platform

• Centralized Cloud ERP System
• Data security
• Integrate with other software & Automate Functions 
• Easy access to records by simple search or filters 
• Bulk Import/Export data
• Excellent reporting and notifications
• Optimize Your Daily Operations.
• Business spend control
• Company level/User controls at every level
• Financial Controls through reports
• Data Insights and Reports 

Bottom Line 

Whatever your specific needs, well-designed Procurement Pay software can help you transform

Your business at scale as part of a digital transformation. There is some Procurement to pay software providers available in the market. But, if you are particularly looking to save 50% of the existing operation cost within a week and achieve 10X ROI. Then you are in the right place.