June 11, 2019, By BirchStreet Admin
Procure-to-Pay or P2P systems can be a daunting topic. When you have worked daily with many large enterprise businesses, you understand the complexity of doing business and why it is essential to utilize P2P systems in today’s world, especially for the hospitality industry.
First, let’s define P2P. A procure-to-pay system is a fully integrated and automated end-to-end business process. The system begins with suppliers, who offer all types of products and services. A business then initiates the ordering or requisition process, either manual or automated, which includes procuring a range of products from food in recipes, supplies, equipment and furniture, to even new build materials. The generation of purchase orders, approvals, fulfillment, receiving, invoicing and payment are sent through the system, which ends with ready-to-pay files for upload into an accounts payable system.
Different departments and people are ordering and purchasing from different suppliers, doing business, and paying for what they bought. Easily stated, right? Not quite so easy to do effectively from the back-office. BirchStreet Systems takes that entire P2P process and automates it with real-time data and insight. Most manual processes are replaced, workflow is faster and easier, and consistency, standards, compliance, visibility and control are enhanced.
BirchStreet simplifies the complex. And, in doing so, makes your business run smoother and more profitably.
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