ourshared P2P is a Microsoft SharePoint accelerator designed to dramatically reduce the time and effort required to store,
retrieve, code, approve and post purchase orders, invoices and credit notes from Microsoft SharePoint to your financials.
By Leveraging SharePoint features (including multiple sites, custom pages and built in workflow, amongst others),
it is possible to configure rich, bespoke, procure-to-pay processes to meet individual business and user requirements – whilst using familiar Microsoft tools and out-of-the-box templates.
(.. and if you don't already have SharePoint we'll take care of that too, with either of the Standard, Enterprise, or freely available Foundation editions.)
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Raise Purchase Orders quickly:
Our easy to use entry forms allow reference data to be read from your financials.
Using default reference data such as account codes and departmental analysis ourshared P2P ensures purchase orders or invoices can be raised easily and quickly with minimal errors.
Customise your Approval Processes:
Using the powerful capabilities of SharePoint workflow, customised approval routing of orders and invoices can be configured, ensuring both the simple and more complex of approvals can be catered for.
Electronic and Automatic Storage of Invoices:
Purchase Invoices can be automatically uploaded and stored within SharePoint by receiving documents via internal (employees) or external (suppliers) email, a scanner or network drive.
In addition to automatic upload, approved users can manually load via the browser.
Automated Real Time Postings to your Financials:
ourshared Unity automates the flow of referential and transactional postings to and from your financials including updates back to ourshared P2P confirming when invoices have been paid,
ensuring a fully automated integrated solution.
Simplified Document Retrieval:
Documents are stored with meta data allowing end users the ability to easily search and retrieve when required. Retrieval of an invoice from the typically large volume of business documents can be difficult or even impossible.
ourshared P2P allows convenient and quick retrieval from within SharePoint or via your financial systems.
Eliminate Duplication of Data Entry:
Invoices can be matched easily to outstanding purchase orders ensuring that all information on the PO is automatically captured in the invoice.
Templates can also be configured for repeat orders and invoices that do not have a purchase order raised.
Maintaining invoices becomes absolutely necessary to meet many different requirements. Orders and Invoices can contain business secrets and other confidential data, such as bonus details, recruitment charges and buyouts.
If unauthorised persons gain access to these invoices, it can lead to business damage or legal damages.
ourshared P2P ensures that only authorised persons can access particular documents.
Realtime postings of commitments and actuals allows for up to date budget comparison from within ourshared P2P and your financials.
With built in approval and configurable exception handling such as over budget purchase orders, you gain control of your P2P process.
Web based reporting allows access to real-time strategic data across the entire buying landscape, ensuring visibility to drive better spending decisions and unlock savings opportunities.
ourshared P2P provides a digital gateway to processing orders, invoices and credit notes, helping to reduce costs, improve compliance and enhance the end-user experience.
Simplify Spend Control
Many businesses find the manual procurement process sits heavily within the accounts payable team.
Their time is often spent re-keying purchase orders and invoice transactions from paper-based documents.
This takes a huge amount of administrative effort, from preparing codes, distributing documents for authorisation, and then ultimately chasing and posting the information into the finance system.
ourshared P2P addresses these challenges and ensures end users are quickly boarded, and managers and finance have the control that they need.
Challenges and Solutions
Lack of Spend Visibility
ourshared P2P provides full visibility of spend from purchase order through to payment, ensuring that unexpected expenditure does not occur.
High Levels of Uncontrolled Spend
Implementing ourshared P2P ensures that staff are not able to purchase goods without proper authorisation,
that purchases are not made from non-approved suppliers and that all committed and actual expenditure is included when budget checking.
Inaccuracy of Data
Reference data such as suppliers,
account codes and analysis can be filtered down to an individual if required so that they only see financial data relevant to them.
This assists the end user in accurate coding of the purchase minimising coding errors.
Rekeying of Data
End users raise the purchase request; once the invoice is received it is matched to the data from the purchase order using the pre-approved financial coding and descriptions.
Meaning no more rekeying of data.
Templates can be built at the order and invoice stage for repeat orders and invoices, even when a purchase order has not been raised.
No more lost documents and chasing of approvals.
The electronic storage, coding and online approval of orders and invoices, combined with the automatic reminder email means that users no longer have to manually chase approvers.
Lack of Compliance and Audibility
To ensure Government regulations are met with document retention,
policies can be configured to archive documents once they have reached their term.
And to ensure financial compliance each touchpoint throughout the process is recorded and visible against each individual document.
Give your organisation a competitive edge!
By streamlining the overall P2P process,
ourshared P2P can help your organisation on its digital transformation journey enabling you to stand out above the competition.