Maximize Value of Your Procure-to-Pay Process
Stop leakage, protect your profits, break through the performance barriers. Minit highlights issues in your process and helps you focus your improvement efforts.
Achieve Enterprise-Wide Visibility
Analyze information from fragmented systems and processes. Achieve a single, transparent view of your global operations, identify best practices and enable them across all departments, branches, and countries.
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Reduce Costs, Eliminate Complexity and Inefficiencies
Reverse losses stemming from complexity, inefficiencies, payment errors, and fraud. Reduce costs of Transactional Purchasing Process and Accounts Payable Process. -
Standardize Your Process, Globalize Best Practices
Improve/protect customer service, revenue & profit. Reduce maverick spending. Implement controls across the enterprise on the number of ways purchases can be transacted. -
Manage Supplier Risk, Minimize Errors
Reduce supplier late-payment penalties. Align category spend with the optimal channel. Eliminate supplier non-compliance to contract. Improve supplier relations. -
Baseline for Investment Into Enabling Technologies
Simplify and optimize current processes before implementing automation. Monitor performance of new processes and technology.
Performance and Conformance Checking
Initiatives and projects in business process management often have a direct impact on company success. However, many companies are still much more concerned with documenting the target processes rather than with the review of the process performance of actual operations. But in practice, business processes often significantly differ from documented business processes. Minit Process Mining helps you perform a quick comparison of the set process and the actual way it is run, to automatically recognize process deviations.
How It Works?
Your procurement/ERP/invoicing system records all events from Purchase Requisition creation to Invoice Payment, marking when each event took place. From this data, our Process Mining software re-creates a model of the entire procurement process.
By adding case attributes such as vendor, purchasing organization, payment terms, cash discount dates, transport conditions to the model you can see where mistakes occur, time periods when they happen, which employees are involved, or which vendors follow which process variations most frequently.
Pinpoint where changes need to be made and focus your improvement efforts to bring the best results, whether it’s expediting approvals in your purchase request process or calculating how much money you save by reducing unnecessary rework in your P2P process.
Case Study: Telco Giant Saves $5M on Purchase to Pay (P2P)
P2P Compliance and Process Excellence With Minit
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Standardize Your P2P Process
- Set your KPIs for the end-to-end process as well as for individual steps.
- Monitor your P2P process continuously. Ensure compliance and that your process is within defined KPIs.
- Uncover deviations from the process and ensure compliance.
- Measure the impact of process deviations on the overall process.
- Identify causes of lost productivity due to rework and changes.
- Identify potential fraud or gaps.
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Globalize P2P Best Practices
- Uncover existing automation gaps.
- Evaluate performance of vendors and identify best-in-class vendors.
- Ensure compliance with buying policies and use of preferred vendors.
- Improve methods and tools to support operations needs.
- Improve business review/approval capabilities.
- Optimize working capital including discounts/rebates.
- Cost savings through compliance and spend visibility.
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Get a first-hand experience of powerful process insights with Minit free trial.
Schedule a Demo Call
Schedule a call with one of our experts or ask for demo presentation.
