Download Better procurement, spend control and cash-flow

Better procurement,
spend control and
cash-flow visibility
Purchase-to-Pay
Canon Business Solutions
Purchase-to-Pay
automation for unified
governance across
procurement
and finance.
This is your introduction to a simpler and
streamlined way to make smarter finance
and procurement decisions, improving
spend and cash flow management.
It means building a partnership with
your suppliers and better collaboration
between procurement and finance.
Canon’s Purchase-to-Pay solution is
designed to make procurement and finance
work better together, enabling both teams to
pursue more strategic goals.
Canon Purchase-to-Pay will give you vital
control and visibility over the entire process
(from requisition through to payment) under
a single platform, to support compliance,
provide security and help reduce costs.
Purchase-to-Pay automation is all
about increasing profitability –the
ability to closely manage spend and
cash-flow thanks to better optimised
and interlinked processes.
Purchase-to-Pay –
the essential step
to business growth
For organisations looking to radically
improve their purchasing and finance
operations and get the best from
both, Canon Purchase-to-Pay provides
streamlined procurement, contracts
management, invoice and staff
expenses handling – fully leveraging
cloud and mobile working.
The Purchase-to-Pay process from sourcing
products & services to paying suppliers
Source
Supplier
Purchase
Order
Purchase
Your business
needs products
and services
Receive
good/service
Process
invoice
Monitor
& Report
Pay
Supplier
Pay
Suppliers
need to be
paid
Across the four key areas of challenge for your finance
and procurement operations, Canon Purchase-to-Pay
offers specific benefits that will simplify and streamline
processes, make your staff more productive and enable
you to make faster, better decisions.
Visibility
Control
Get real insights
for better decisions
Improve processes and
business relationships
Not having the right information at your fingertips is frustrating
for finance and procurement professionals. Lack of transparency
can also encourage poor behaviours and leave your organisation
exposed to risk.
Control of your company’s purchasing and accounting processes
is vital, so that you can free-up valuable time and resource to focus
on achieving strategic goals. Ineffective cash control, poor match
rates for invoices or too much manual document handling wastes
valuable staff time. Meanwhile, working with poor supplier data
and not having a clear procurement policy can lead to poor supplier
relationships.
Getting key data in your line of sight will remove the frustrations
and wasted time and help you take the first step towards better
decision making.
•
F inance will require a more consistent and current view of the
cash-flow position, rather than piece this together from disparate
systems and having to chase a paper trail
•Procurement will need to have a greater insight into supplier
contracts to check service levels and terms or to understand
particular supplier competencies
Getting a smoother process can reduce the ‘noise’ in your
organisation and let your staff get on with more satisfying jobs.
•Finance will require better processes, be that increasing the
number of invoices matched to POs, or increasing the ratio of
electronic invoices in relation to paper
•Procurement will need to identify and coral maverick spenders
and bring their behaviours back in line with purchasing policies
Cost
Security &
Compliance
Achieve savings and
add to profits
Reduce risk and
unnecessary disruption
In the end it comes down to money. While we all strive for
business growth, we know that savings can make all the
difference to ongoing success. How will you achieve your
savings goals over the next 12 months?
Your organisation is legally required to present accurate and
legally complying transactions, so automating your procedures
to minimise errors and maximise compliance is the best way
forward. Additionally, meeting internal policies and supporting
better governance can improve productivity and morale across the
business.
Whether your organisation’s saving goals will come from supplier
rationalisation, re-negotiating contracts or from operational
efficiencies, you will find that Purchase-to-Pay automation solutions
can help you achieve your savings goals across the piece.
•Finance will want to make savings from efficiencies that
bring down transaction costs and turn finance from a cost
centre to a profit centre
•Procurement will want to get beyond the continuous churn
of squeezing savings from suppliers and move towards real
strategic savings and even revenue generation
One in five invoices has errors or missing data (Canon/RS
Consulting, 2011). Fraud risk is also increased in the purchaseto-pay cycle, since this is where the money flows. If you do not
have automated checks and balances, you are increasing your
organisation’s exposure to fraud.
•Finance will want to be audit-ready and compliant
with legislation
•Procurement will want to ensure that your organisation
is working with approved suppliers and that your buyers
respect procurement policies
Purchase-to-Pay:
perfecting the process
An end-to-end Purchase-to-Pay
automation solution means making
smarter financial and procurement
decisions, improving spend and
cash-flow management.
Canon P2P gives better procurement, spend control and cash-flow visibility
Source
Supplier
Engage supplier
and agree terms
Purchase
Order
Process an order
with a supplier
Receive
good/service
Acknowledge
receipt following
delivery
Process
invoice
Receive paper
/ e-invoice,
automate
workflow and
approval, PO
matching etc
Monitor
& Report
Pay
Supplier
Monitor entire
P2P process
stages and
produce tailored
reports
Resolve queries
and approve
payment to the
supplier
Process
Expense
Single platform for unified governance across procurement & finance
Canon P2P
Contract
Canon P2P
Buyer
Keep track of your
suppliers contracts
– be reminded
when they need
action
Manage purchases and data
to achieve spend control
Canon P2P Canon P2P
Invoice
Dashboard
Canon P2P
Supplier
Portal
Canon P2P
Expense
Control the entire
P2P process, live,
as it happens
Control the entire
P2P process, live,
as it happens
Control the entire
P2P process, live,
as it happens
Focus your
expertise on the
deviations from
the norm
Why Implementing Canon’s
Purchase-to-Pay is easier than you think
Servicing &
Deployment
Despite what Purchase-to-Pay automation has to offer, including
lower transaction costs, reduced lead times and streamlined
workflows, some organisations can sometimes feel excluded from
these benefits. Some of your suppliers may resist adapting, or you
may feel that a ‘P2P system’ is too big to be a viable investment
for your business. But Purchase-to-Pay automation has changed.
You don’t have to be left on your own to work through the
implementation. Canon’s business solutions team can make
life easier by offering:
Canon’s solution has been described by other customers as:
•Flexible – modular architecture, so you can deploy individual
•SaaS, hosted and on-premise options to allow you to best
match your IT goals
•Consulting services to identify, design and implement
tailored P2P automation strategy
•Managed services options available to achieve further benefits
applications, or phase them step-by-step
•Affordable – multiple pricing options, including subscriptions,
to best meet your needs
•Easily integrated – working with the equipment and software
you already have in the office
•Intuitive – web-based intuitive user interface installed with
minimal need for training
•Mobile – use the system on-the-go, off-site or away from the
office, from any internet enabled device
Getting started
Canon’s Business Process Consultants are experts in helping
our customers reduce costs, minimise risk and grow sales
by streamlining key business processes. We start by trying to
understand your business – your current processes, people, premises
and systems.
Before talking about a P2P solution, Canon’s consultants work
through any one of three steps, so that we know we can design the
right solution for your organisation.
•Business need qualification.
•Live solution demonstration or proof of concept.
•Process audit.
About Canon For Information Management
Canon Information Management solutions are built on more than
75 years’ experience in developing innovative technology to capture,
process and deliver documents and images.
By allowing any type of organisation to take control of their critical
information, our expertise in facilitating efficient working practices
empowers customers across Europe to deliver exceptional customer
experience, gain competitive advantage and meet regulatory
compliance.
Added value
with Canon P2P
Clearer visibility
Better control
Easier compliance
Greater security
More cash
Canon Inc.
Canon Europe Ltd
canon.com
3 The Square, Stockley Park
Uxbridge, Middlesex
UB11 1ET
United Kingdom
Canon Europe
canon-europe.com
English Edition
© Canon Europa N.V., 2014