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Datamatics’ procure to pay - P2P solutions suite comes with end-to-end cost optimization techniques for handling shared services, procurement, and accounts payable processes. Datamatics deploys a suite of proprietary frameworks and digital platforms to automate p2p processes including intelligent OCR, invoice processing, contract management, and supplier performance. Our RPA technologies empower CFOs to revolutionize the supplier value chain.
Datamatics procure to pay solutions to enable the CFO office to accelerate the payment process and have a tight control on the organizational spend. It enables the business to leverage end-to-end automation over a digital platform across the supplier ecosystem.
Facilitate centralized vendor onboarding, procurement, and management. Improve vendor and supplier engagement via early payments, fostering just in time (JIT) supply chains. Leverage automated P2P for early payment discounts and robust supply chains.
Automate vendor and supplier contract management. Define milestones and SOPs for mutual success. Efficiently administer unlimited contracts for seamless vendor and suppliers relationships.
Streamline creation, administration, and management of requisitions and purchase orders using pre-populated templates once the supplies reach the lower threshold. Automatically route requisitions and purchase orders to approver hierarchies depending on the spend amount.
Use pre-built templates or create impromptu invoices and route them to authorized signatories for their digital approvals. Digitally store purchase orders received from customers and link them to the invoices and contracts for maintaining traceability.<
Streamline travel expenses of business executives over a digital platform by engaging latest technologies. Digitally capture details from payment receipts and toll receipts for submitting travel expense claims.
Streamline reconciliations in accounts payable and receivable cycles, integrating data into systems like SAP. Automate two-way and three-way matching of digital versions and digitized copies of purchase orders, invoices, and receipts across vendors, suppliers, and customers ecosystem.
Strengthen financial control with real-time reporting. Cut costs, enhance operations, and reduce transaction time. Maintain high levels of visibility, traceability, and accountability in the payment and receivable cycles
Provide centralized supplier management, procurement, and new supplier search across branches. Accelerate procurement from trusted digital panel suppliers. Attain scale and cost efficiencies with centralized procurement.
Worth invoices processed per year through successful implementation and delivery of enterprise-wide BPM automation and digitalization efforts at scale
Invoices processed per year with 99.9% accuracy by using point solutions as well as end-to-end automation models spanning larger geographies
Finance & Accounting Experts both in house as well as on consultant basis to deliver precision solutions in a timely manner
Cost reduction for F&A customers thus ensuring a secondary source of revenue generation in parallel with that from the business-as-usual activity
P2P Automation streamlines Accounts Payable (AP) processes, improves accuracy, improves speed and efficiency, and reduces operational costs. Hence P2P Automation assumes high importance in Finance & Accounting section of a business.
Just-in-Time (JIT) production or manufacture paradigm requires the supplies inventory to be maintained at certain threshold level so that the product is built and delivered to the customer just in time. To realize JIT manufacture, the vendor supplier should be able to meet the Takt time or the product assembly time duration of the manufacturer to match the product demand from the customers.
This paradigm is mostly followed by manufacturing businesses to alleviate costs associated with huge inventories and ware housing of finished products. A healthy and happy supply chain is of paramount importance for JIT manufacture to function at optimal speed and efficiency.
P2P Automation fuels the functioning of a highly agile yet robust supply chain such that payments for supplies received are made to the supply chain vendors within stipulated timelines and the next batch of supplies is received, as and when required by the business.
When the P2P process is automated, the usual bottle necks related to paper-based processing and approvals are eliminated. The processing right from Purchase Order to Invoice receipt and Invoice processing, to 2/3 way matching, are all automated. As a result, the payment is released to the supplier vendor within a stipulated time, say 3 days, which positively influences vendor relations.
P2P Automation immensely supports faster invoice processing and all related processes, including reconciliation. In a close knit value chain, P2P Automation ensures that Purchase Orders and Service Orders are digitally stored and their content is incorporated in the core systems through Intelligent Document Processing. It also ensures that the digitized versions of all the related documents including Invoices, Service Received Note, Contracts, and Agreements are stored and referenced correctly in the databases to ensure traceability as well as support audit work and compliances.
The end-to-end automation of the P2P process ensures that as soon as an invoice is received after procurement of a batch of goods, the payment is released within a stipulated time as per the standard operating procedure. Smart invoice processing powered by P2P Automation ensures faster processing and end-to-end traceability at all times.
A business usually has a certain portion of their executives, including business leaders, sales personnel, field executives, etc., always on the move. They need to settle their out-of-the-pocket expenses within stipulated timelines as prescribed by their enterprises. Travel & Expense Management is an out-of-the-box digital platform offered by Datamatics that allows business executives on the field to digitally capture details from invoices, receipts, and toll receipts and route them to the Finance & Accounts department of their business through their approval hierarchy. It allows them to submit expense vouchers in a digital format and settle claim amounts right from the field.
A manufacturing business enterprise exclusively depends on their suppliers and vendors to deliver their product orders on time. The P2P Automation enables them to quickly make payment for the supplies received, forms the backbone of the Supply Chain Management, and empowers them to gain a competitive edge in the product market.