What is Procure to Pay Software?
The term 4D Procure to Pay Software is not very familiar to many people because it is a term invented by the software industry to encompass the gamut of processes and activities involved in buying raw materials, goods and services. This Procure to Pay Software flow includes raising requisitions, approving steps, Placing orders, receiving invoice and goods, receiving supplier performance and compliance. If you look at the process in detail there are many complex activities happening behind the scene. A procure to pay software simplifies these activities and helps companies to reduce cost, save time, etc., Procure to Pay Process A typical procure-to-pay process includes many steps: Requisition - Need for materials or services is identified and a requisition is created. Vendor selection - This might include a request for proposals (RFP) unless a preferred supplier has already been identified. Purchase order - Once the vendor has been selected, a purchase order (P...
