PROCURE TO PAY (P2P)
Lonar Technologies proprietary product Procure To Pay (P2P) is a web based portal made to ease the Purchasing to Payment cycle of the organization and its vendors. The portal has great advantage as it can be used across organization with different locations and help to centralize the Procurement activities.
FUNCTIONALITIES
Centralizes purchases of all departments at corporate level
Digitizes and streamlines all purchasing activities for an organization
The cycle facilitates the flow of different activities like budgeting, raising purchase request, purchase order, Shipment/ Receiving, invoicing and payments efficiently
Can be seamlessly integrated with Oracle eBusiness Suite
Makes the entire P2P cycle easy to use and hassle free
FEATURES
Purchaser
Can request for purchases from different departments
Purchases can be linked to budgets to track the flow of consumption
P2P enables complete transparency between the vendors and organization pertaining to the status of request, orders, deliverables, payments, etc
User and roles can be customized
MIS reporting is available
Automated email notifications for various processes
Vendor
Paperless and hassle-free registration
Dedicated vendor access
Can upload business and product information
Directly see the status of invoices, delivery and payments
ADVANTAGES
Purchasing cycle goes paperless
Easy access to different Purchase Orders, Invoices, Shipments, etc
Increases coherency in communication between organization and vendors regarding purchases
Facilitates easy vendor on boarding and management
Purchasing from various departments of an organization can be made effortless
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