Take complete control of your spend with web3 purchase to pay
Eliminating maverick spend, improving spend visibility and reducing manual process, Wax Digital web3 Purchase to Pay (P2P) brings automation to the entire procurement process, rapidly delivering cost and resource savings. The web based purchase order system provides an intuitive consumer shopping experience to ensure employees can quickly and easily meet their needs for products and services from the right suppliers at the right prices.
Purchase to Pay benefits at a glance
What is Purchase to Pay
New to the term Purchase to Pay, also known as Procure to Pay, or need to refresh your memory? Here’s our explanation of Purchase to Pay, also known as Procure to Pay.
Purchase to Pay, also known as P2P for short, comprises a number of stages that describe the end-to-end process from an organisation ordering a product or service from a supplier, through to the organisation making the subsequent payment for those services.
The main stages of this process are product ordering, supplier requisitions, budget authorisation, receipting of delivery, and invoice processing. The process is also known as Procure to Pay. The illustration below shows the entire P2P process.
P2P systems (or software) facilitate staff efficiencies, cost savings, spend control and spend transparency across this entire lifecycle.
Purchase to Pay (P2P) Lifecycle
P2P processing accounts for nearly one third of the overall cost of finance and procurement operations, and we can help you improve administrative efficiencies and reduce such cost by as much as 80%.
More ways we can help
Integrated Source to Pay
Maximise efficiencies, savings and spend compliance throughout the entire procurement lifecycle while integrating seamlessly with back-office, finance and ERP systems.
Source to Contract
Our powerful platform that’s built to deliver strategic sourcing success, including eTenders and eAuctions, Contract Management and Savings Tracker.
Supplier Information Management
Our online hub allows suppliers to self-serve with onboarding information, and submit mandatory certifications and documentation. Supported by automated milestone and alert management.