![]() When each of these documents aligns, a three-way match is successful, and the invoice can then be allowed to pay. ![]() Invoice processing begins by matching the received invoice against the PO allowing the ERP system to match the PO to the received status. It is in this P2P focus area that its importance comes into play. However, the end user is also involved as they identify the need for the good or service and may have a say in the vendor chosen.Īs mentioned earlier, a PO is essential to reducing errors in the P2P process. Supply Chain takes on most of the responsibility in this focus areas, including Sourcing, Procurement, Value Analysis, and more. We also include the contracting focus areas to reduce risk throughout the P2P ecosystem, including the centralization of contracts within a health system, tracking spend for tiered pricing and rebates, insight into opportunities to cut costs through pricing negotiations, and managing the item master. Why do we include contracting as our first focus area? As mentioned above, there is much involved in contracting, from negotiating terms and conditions to entering contract data to managing expirations that affect actions downstream, costing lost funds and resource waste. Top Procure to Pay Focus Areas to Reduce Risk We break these categories into five focus areas that help to assess risk at each step of the P2P process for our healthcare clients. Irn fact, at TAG, we look at over 50 categories that impact the P2P ecosystem and its outcomes.
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