Improve purchase to pay spend visibility and control with our complete P2P solution.

Structure and streamline your purchasing process with our end to end, web-based, purchase to pay (P2P software) suite. Medius Spend Management helps you find the right products from the right suppliers at the right prices. Eliminate manual tasks like data entry and monitoring and reviewing agreements - saving you time, money, and effort. What’s more, it works seamlessly with your back office, making it an ideal P2P solution to implement today.

What is purchase to pay?

Purchase to pay, also known as procure to pay software, is an integrated system that fully automates a business's purchasing process. The system earned its name as it handles all aspects of acquisition, from the purchase of goods to the vendor's payment. The key benefits of selecting the best P2P solution for your business are efficiency, cost savings, and increased financial and procurement visibility.

Medius purchase to pay screenshot

The purchase to pay process.

With Medius, every step of thee P2P process (covered below) is automated, streamlined, and made more efficient, saving you time, money, and effort while increasing financial and procurement visibility.

1
Request for purchase

This is the initial step in the P2P process. It involves identifying a need for a particular good or service and creating a request for the same. The request typically includes essential details such as quantity, specifications, and the expected delivery date.

2
Approval workflow

After a purchase request is submitted, it goes through an approval workflow. This is a predefined process that may involve several layers of approval depending on the organization's internal policies and the value of the purchase.

3
Purchase order

Once the purchase request is approved, a purchase order (PO) is issued to the supplier. The PO serves as a legal offer to buy products or services. It includes detailed information about the items, quantities, and agreed prices.

4
Goods receipt

When the goods or services are delivered, the receiving department checks them against the PO. Any discrepancies are noted, and quality checks are performed before the receipt is acknowledged.

5
Invoice capture

Once the goods are received and accepted, an invoice is sent by the supplier either electronically (PDF email attachment or portal submission) or mailed in paper format. The information from the invoice must be noted in the system of record, through either manual keying or, as a much easier option, scanned and captured through intelligent OCR.

6
Invoice matching

Now that the invoice data (lines and headers) have been recorded in the AP system of record, the data is matched against the PO and the goods receipt. This process, known as three-way matching, ensures that the invoice is accurate and prevents overpayment.

7
Payment approval

After successful invoice matching, the invoice is approved for payment. This may involve another layer of internal approvals, depending on the organization's policies.

 

8
Payment

The approved invoice is then paid according to the payment terms agreed with the supplier. This could be immediate payment, net 30 days, or any other arrangement.

9
Record keeping

The final step in the P2P process is record-keeping. All documents related to the purchase, including the purchase request, PO, goods receipt, invoice, and payment record, are archived for future reference and audit purposes. This contributes to transparency and accountability in the purchasing process.

Check out our blog for detailed information about the purchase to pay process:

P2P process explained

Purchase to pay features.

Fulfill all steps of the P2P automation process with Medius, a market-leading purchase to pay software provider. It’s easy to implement and use, with features including:

Intuitive and easy to use UI.

Medius Procurement, our buying solution, makes it easy to purchase what you need. It embeds fundamental elements of your favorite eCommerce sites like adding items to a basket, checkout, and so much more.

Purchase to pay user interface
Purchase to pay features

Broad product visibility.

At Medius, we're confident that we offer some of the best source to pay software on the market. Medius' Source to Pay software keeps your suppliers' details all in one place, ensuring you always have a host of reliable suppliers at your disposal.

It’s simple to compare goods and services in Medius Procurement, helping you choose the goods that work best for you and your budget.

Simple setup and integration with your back-office.

All Medius products, including our professional procure-to-pay suite, seamlessly integrate with third-party systems such as ERPs, third party ecosystems, and of course other Medius Spend Management solutions. It’s all powered by Medius Connect, our innovative technology that uses pre-configured connectors to bring together third-party systems with our solutions.

Features integration screen
Purchase to pay reporting

Reporting helps you make smarter decisions.

It’s challenging to get an overview of your P2P process functions. However, bundled with Medius’ purchase to pay solution is a raft of configurable dashboards to give you real-time insights into how your buying process works.

What’s more, you’ll be able to configure these dashboards and reports to deliver the detail you need to help you make smarter purchasing decisions, like spotting bottlenecks, overly expensive items, and much more.

Benefits of purchase to pay software.

Spend smarter

Our purchase to pay software will help you eliminate maverick spend by improving buying compliance across your whole organization. Instead of using disparate suppliers to purchase goods based on ad-hoc agreements, you’ll benefit from a system that structures and centralizes your buying process, ensuring everyone gets goods/services from pre-arranged agreements.

Improve efficiency

Medius Spend Management liberates your workforce by automating specific tasks – such as raising purchase orders and predictive coding – to process invoices seamlessly.

Drive supplier adoption

Your suppliers will love using Medius because our self-service onboarding system eliminates the need for paperwork or verification – this will all be taken care of by our intuitive online portal.

Best practices of purchase to pay.

Achieving efficiency and cost savings in the purchase to pay (P2P) process requires the implementation of certain best practices.

A standardized procurement process reduces complexity and eliminates inefficiencies. Medius Spend Management helps you structure and streamline your purchasing process, making it consistent and efficient​​.

Clarity in policies and procedures minimizes confusion and errors. Medius provides an end-to-end, web-based solution that helps you establish and enforce your purchasing and payment policies​​.

Approval workflows ensure that purchases are necessary and within budget. Medius' solution automates the workflow, speeding up approvals and ensuring compliance​​.

Automating purchase order creation and delivery saves time and reduces errors. With Medius, raising purchase orders becomes an automated task, making the process seamless​​.

Verifying goods receipt is crucial to ensure you get what you order. Medius' Source to Pay software keeps your suppliers' details all in one place, facilitating efficient goods receipt verification​.

Invoice matching prevents overpayment and fraud. Medius' purchase to pay solution includes configurable dashboards that provide real-time insights into your buying process, facilitating accurate invoice matching​​.

Automation in the payment process improves efficiency and reduces late payments. Medius' solution works seamlessly with your back office, automating the payment process and integrating with your existing systems​.

Good communication with suppliers strengthens relationships and improves service. Medius' intuitive online portal is liked by suppliers and helps maintain clear and efficient communication​​.

Data analysis and reporting provide insights for decision making. Medius' solution includes a raft of configurable dashboards that give you real-time insights and help you make smarter purchasing decisions​​.

Regular reviews keep your procurement process up to date and effective. The adaptability and flexibility of Medius' solution make it easy to adjust your procurement policies and procedures as needed

Clear communication channels on all documents, from contracts to invoices, help foster a collaborative environment between procurement and finance, bridging the gap and controlling costs and reinforcing internal policies and procedures. 

Integrate purchase to pay software with your back-office.

Medius Procurement and Medius AP Automation seamlessly connects with your business solutions:

  • Out of the box connectors for major ERP systems means a rapid and predictable implementation.
  • Integration to your business ecosystem, from third party catalogs to an embedded capture solution means your users have a single UI for all interactions.
  • Seamless integration between Medius Procurement and Medius AP Automation keeps finance and procurement on the same page. Other out of the box integrations such as Medius Pay extend the capabilities for a true Procure to Pay Solution.

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