Leading regional corporations might typically spend up to about 253 man-hours per week* in manual intervention, entering data and rectifying their cash flow reports. It is observed that organizations are often subjected to off-contract, off-price maverick buying that could lead to significant wastage and high expenditure through procurement processes. (*1 The 2014 Visa Cash Flow Visibility Index research was done in August-September with CFOs / Treasurers of 811 leading corporations in ten countries/regions to better understand challenges that organizations may face with managing cash flow and ensuring visibility and predictability. The research was done by East & Partners, an independent specialist business banking market research and analysis firm. Regional data cover findings of Australia, Hong Kong, India, Japan, Malaysia and Singapore.)
The capability delivers an integrated solution set to automate an organization’s procure-to-pay process. The solution set includes granular spend data analysis, compliance focused strategic sourcing capabilities, supplier managed web content and touch-less eCommerce payment functionality. It is highly functional and intelligently reconciles purchase orders, contracts and invoices, ensuring that the purchasing and finance departments have the knowledge and data in real-time to continually optimize all procurement activities across the organization.