Procure to Pay Process | Minit Process Mining Software

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.

Standardise 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, minimise errors

Reduce supplier late payments 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.

Reduce order cycle time

Examine the P2P process and determine the percentage of invoices that don’t pass straight through the purchase-to-pay system the first time without delay or manual intervention. Compare the processing times to benchmarks or internal KPIs. Minit Process Mining can identify bottlenecks and reasons for delays or rework across the entire end-to-end value chain including sub-processes. Redefine guidelines & best practices to improve invoice matching rate.

Optimize on-time payment

Analyze the process with a focus on on-time payment. See the average payment term. Uncover causes for late payments. Optimize invoice approval speed. Eliminate unnecessary process steps and complexity in approval rules. Reduce the number of terms you have across any particular region. Standardize the end-to-end process and enable best-practice across the entire enterprise.

Reduce manual intervention

20% of the deviations from the standard process often cause up to 80% of the effort in the manual post-processing, such as price or quantity corrections. Identify when process steps require additional time such as orders canceled, deliveries late, goods damaged in transport, goods delivered to the wrong facility or placed in incorrect storage. See where mistakes occur, identify trends such as time periods when they happen, which employees are involved, or which vendors follow which process variations most frequently.

Reduce cost per invoice

Use Minit Process Mining for Financial analysis of your P2P process. Measure the expense of each invoice that is processed, from the moment it leaves the supplier to the time the payment is made. Include sum of all salary, and IT costs attribute in your analysis, to uncover process paths with unnecessary costs and their causes

Eliminate maverick buying

Identify and evaluate negative effects of maverick buying. Uncover spending not controlled by the procurement department, and minimize instances of multiple applications in the processing of invoices (e.g., no 3-way match possible). Ensure compliance to preferred suppliers.

Capture unused discount potential

Look at how much of your spend has discounts enabled, and how much of this you are able to take advantage of. You’ll then be able to work out how much your purchase-to-pay operations are saving or losing as a result. Minit Process Mining offers the opportunity to identify the causes of unused discount potentials in order to gain liquidity margins.

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.

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.

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.

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.

Maximize the Value of your Procure to Pay Process

Achieve enterprise-wide P2P visibility

Reduce costs, eliminate complexity and inefficiencies

Standardise your process, globalize best practices

Manage supplier risk, minimise errors

Baseline for investment into enabling technologies

Optimise your entire supply chain and accounts payable

Reduce order cycle time

Optimize on-time payment

Reduce manual intervention

Reduce cost per invoice

Eliminate maverick buying

Capture unused discount potential

Performance and conformance checking

P2P compliance and process excellence with Minit

Standardize your P2P process

Globalize P2P best-practices

How it works?

Go beyond process cost reduction with strategic sourcing and contracting

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