Intelligent Automation To Power Your Business The Modular Approach to Procure-to-Pay Transformation
Datamatics FINATO Procure-to-Pay
Intelligent Automation To Power Your Business The Modular Approach to Procure-to-Pay Transformation
Datamatics FINATO Procure to Pay module simplifies the Accounts Payable environment. The AI/ML enabled module is deployable both on premise and on cloud, is scalable with 1000+ concurrent user access, and seamlessly integrates with the existing CFO Backoffice technology ecosystem. It offers a secure anytime anywhere access and a highly cost-efficient proposition in the AP Automation environment.
Datamatics’ team of technology and domain experts help businesses to customize and integrate the Finato AP module in their architecture for driving Procure to Pay Automation. The module leverages its Invoice Automation workflow for end-to-end automation across the Procure to Pay cycle. It differentiates itself with its advanced AI/ML driven automation and real-time analytics features, making it the P2P Automation solution of choice across the globe.
Datamatics FINATO Procure-to-Pay
Differentiators
Purchase Requisition Automation
Auto-requisition creation from catalog masters
Direct requisition from the market place
Auto Budget Check
Automated workflows for approval/rejection
Top-five supplier recommendation based on AIML ratings on supplier performance
Purchase Order Automation
Direct integration of Purchase Requisition (PR) post-approval with the ERP for Purchase Order (PO) creation
Multiple PRs to one PO functionality
Vendor assessment, ratings, recommendations, and much more
Response for Quotation Automation
RFQ creation and communication to vendor through the vendor portal
Guest vendor access to RFPs/RFQs
System-based vendor evaluation and shortlisting
RFQ, RFP, PO creation and management
E-Auction
Real-time e-Auction functionality along with reverse auction
Live vendor participation and bidding
Real-time visibility of bids for analysis
Logs and audit trails for regulatory compliance
Vendor finalization and PO submission
Intelligent Data Capture
AI/ML-powered data ingestion with image pre-processing and post-processing for high accuracy
System-based validations
Dashboards and reports
Text Analytics and Pattern Detection
AI-enabled vendor response evaluation and recommendation
Vendor performance assessment and ranking
Reports and Dashboards
Real-time data visualization
Invoice status updates
Visibility of payment details
Dashboards and on-demand analytics
Contract Management Automation
AI/ML-powered contract design, administration, and management across the contract lifecycle
AI/ML-based risk identification and mitigation
Clause library for easy authoring
Secure Environment
Anytime, anywhere access in a secure environment
End-to-End audit trails
System notifications and alerts
Datamatics FINATO Procure-to-Pay
Modules
Procurement
Automated workflow management across requisition to order creation
AI-powered vendor evaluation and contract management, with end-to-end automation and audit trail
Invoice Processing
Automated invoice processing and workflow management with automated 2 and 3-way matching
Seamless integration with ERPs through API connectors
Use of RPA for GRNs/IBDs
Mobility-based approvals
Vendor Portal
AI-enabled vendor evaluation and onboarding
Digital invoice submission/Creation
PO flip, and advanced shipment notice
Invoice Status and Payment Status Visibility to the Vendor
Contract Management
Intelligent Contract Management with pre-approved templates and clauses library
AI-based validations and audit trails
Travel and Expense
Travel Request and Travel Expense report creation
Expense Reimbursement built atop intelligent workflows with audit trails for anytime anywhere access
Expense Submission and approvals on mobile device
TruBI
On-demand Analytics
Spend Analytics
Datamatics FINATO Procure-to-Pay
Benefits
Alert Notifications
Get alerts and auto-mailers at every stage of the P2P cycle
Audit Trail
Save comprehensive audit trails for institutionalizing ownership and regulatory compliance
Easy Storage and Retrieval
Build in storage, elastic search retrieval, and archival features through API integration with existing databases
Secure User-based Access
Gain secure role-based access to the platform and its features for anytime anywhere any-device usage
Customizable Modular Platform
Enjoy the benefits of a modular and scalable P2P platform as per business requirement
Reporting and Analytics at Finger-tips
Democratize real-time tracking, monitoring, and data accessibility across hierarchies
FEATURED CONTENT
Demo
Invoice Processing Automation Solution powered by Finato
Datamatics FINATO Procure to Pay is an intelligent and intuitive P2P automation platform that simplifies the CFO Backoffice processes. Its modular approach enables businesses adopt its features as per the client’s requirement.
How does Datamatics FINATO Procure-to-Pay enable businesses?
Datamatics FINATO Procure to Pay platform simplifies P2P automation. It offers a highly modular and scalable architecture that is easy to integrate with the CFO Backoffice. It offers 360 degree visibility and control of the AP environment through real-time reports and dashboards for faster decision-making.
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