Purchase-to-Pay with Process Mining

Featured webinar: September 22nd, 2020 at 3pm EEST

Process Mining for Accounts Payable

• Learn how to discover the Accounts Payable side of your Purchase-to-Pay process, its inefficiencies and their root causes with process mining.
• Understand how to use the AP Application to empower your organization with all the process mining benefits, including harnessing cash discounts, shortening lead times and driving high compliance.

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What is the Purchase-to-Pay Process?

The Purchase-to-Pay process is also known as PtP, procure-to-pay, or req-to-check. It refers to business processes that cover requisitioning, purchasing, confirming, receiving, paying for, and accounting for goods and services.

As the transactional volume is extremely high and often quite complex (with different approvals, procedures requests and suppliers), each step within the processes is a potential source of errors. This makes Purchase-to-Pay a good target for process mining, which brings visibility to the entire end-to-end process and identifies root causes for problems.

Why Process Mining?

Would you like to have better procurement, lower buying prices, and higher internal efficiency? Process mining not only visualizes the end-to-end Purchase-to-Pay process in process flow charts, but also effectively pinpoints business segments with the biggest improvement potential.

Process mining helps you improve your Purchase-to-Pay process performance and achieve the following business benefits:

• Shorter lead times
• Better discount due to shorter payment periods
• Increased success and volume of Robotic Process Automation
• Fewer process changes, errors, rework
• Less Maverick buying
• Improved use of frame agreements

Purchase-to-Pay with QPR ProcessAnalyzer

This solution fits all Purchase-to-Pay analysis needs, and the best part is: you don't have to be a data scientist. QPR's Purchase-to-Pay solution contains pre-built presets for analyzing and optimizing the purchase-to-pay process. Analyze lead times and price changes, see process conformance and automation opportunities, and spot Maverick buying and its' root causes from the same view.

Moreover, you'll have access to the advanced features of QPR ProcessAnalyzer: the industry’s leading Root Cause analysis, AI-based Clustering analysis, and advanced Machine Learning functionalities.

How? QPR ProcessAnalyzer draws event data directly from your IT systems (such as ERP, CRM and BPM systems). It then visualizes and analyzes process flows that currently take place in your organization - providing a holistic view of processes, while identifying risks (such as bottlenecks, process deviations, compliance violations) and opportunities (such as the most suitable and profitable processes for Robotic Process Automation).

Gain the confidence to make the right decisions and take your processes to the next level.