Johannesburg, 27 Oct 2014
SPI, the African distributor for utility software products and services to the open systems segment of the IT industry and the southern African reseller for Esker, a leader in document process automation solutions, today announced the launch of its new on-demand E-Purchasing solution which automates the entire purchase-to-pay cycle, ie, from purchase requisition to vendor invoice payment authorisation. The solution completes Esker's software suite to address the full spectrum of business document processes.
Automating accounts payable is a key focus for many of today's businesses to improve vendor invoice processing, but very few have addressed the early stages of the buying process. At the crossroads of operational, administrative and accounting functions, purchasing is strategic for companies in terms of cash management and internal performance.
The purchasing department can generate added value and profitability for the entire organisation; however, the value is often restricted by outdated and inefficient processes involving paper documents and time-consuming manual tasks. E-purchasing allows companies to streamline spend management, reduce carrying costs and increase profit.
"This new solution is a result of our ongoing commitment to bring value to companies through document process automation," commented Jean-Michel B'erard, CEO of Esker. "By interconnecting all processes in one shared platform, Esker provides companies with visibility, efficiency and compliancy for both the purchase-to-pay and order-to-cash cycles. Now, with end-to-end automation of the purchasing cycle, we have created a strong link between purchase requisitions, purchase orders and vendor invoices."
One solution to automate entire buying process
With Esker's E-Purchasing solution, companies can automate all stages of the buying process:
Purchasing automation:
* Purchase requisition is created in electronic format;
* Purchase requisition is automatically entered in an approval workflow;
* Once purchase requisition is approved, the order is placed; and
* Product reception is entered into the application.
Vendor invoice automation:
* Vendor invoice is received;
* Invoice data is verified;
* Three-way matching (invoice and corresponding purchase order) takes place;
* Discrepancies are managed;
* Invoice data is integrated into ERP system; and
* Vendor invoice payment is authorised.
Esker allows different departments and users within a company (eg, purchasing, accounting and marketing) to manage indirect purchasing that generally takes place outside of the ERP system. Any business, regardless of order volume or number of employees, is able to automate its entire purchasing cycle in a relatively short period of time.
Esker's new E-Purchasing solution helps companies achieve numerous benefits, including:
* Enhanced cash flow management thanks to improved requisition visibility;
* Budgetary control and real-time monitoring;
* Improved bottom line by capturing early payment discounts;
* Increased time savings and productivity for those involved in purchasing and payment;
* Reduced risk of fraud and compliance to approval procedures;
* Improved supplier relationship and on-time payments; and
* Better accounting accuracy.
Pricing for the E-Purchasing solution is subscription and transaction-based for an unlimited number of users and will be made available at a later date for use on mobile devices, such as tablets and smartphones, to meet the needs of employees who are off-site or on the go.
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