Delivering new levels of performance across the entire Procure to Pay process
AI-Powered Procure to Pay process automation with advanced predictive analytics generating new insights to achieve maximum levels of performance and cross-functional integration.Start your journey
“The most effective way to optimise procurement is not simply outsourcing it, but instead transforming the procurement function into a strategic, value-generating arm of the organisation” – Mckinsey
Visibility and control of your procurement activities
With the emergence of Artificial Intelligence digital services, it’s vital that CFO/CPOs choose the right digital transformation approach for their organisation.
There are 2 fundamental areas that provide benefits when using intelligent process automation: platforms that are able to create value and platforms that identify and prevent value leakage as part of the spend cube.
Many organisations have fragmented ERP systems which in itself creates challenges for multi-national companies to create a base spend cube.
Mckinsey identified that many finance and procurement leaders have already applied more well-established commercial levers and are convinced that big data and advanced predictive analytics hold the key for future improvements in procurement performance.
On average, their expectations included a 40% increase in annual savings, 30% - 50% less time spent on transactional sourcing, and a 50% reduction in value leakage.
The next-generation P2P operating model
Companies are looking to build value and provide compelling customer experiences at lower costs.
This can be achieved with a combination of digital platforms aligned with operational capabilities with coordinated workflows, connectivity with systems and applications delivering new revenue, enhanced customer value whilst delivering cost reductions.
The primary focus is on customer journeys to achieve incremental value across the front to back-office operations removing silos to create a Unified Enterprise.
Deloitte identified that through collaborative AI platforms; innovation and advanced predictive analytics, Procure to Pay management turns proactive, as supplier performance and risk mitigation strategy become pre-emptive, allowing professionals to focus on continuously optimising operations with payback measured in months not years.
Transform P2P seamlessly with AI-Powered technology
At Aurora, we use our AI-Powered Intelligent Automation framework to help clients identify and apply the right automation technologies to accelerate your Procure to Pay digital agenda.
By automating administrative tasks such as the creation of PO / Invoice processing, 3-way matching leveraging predictive analytics to enable transparency across the procurement process by decreasing the risk of human error; eliminating duplicate invoicing and incorrect payment amounts or recipients.
We Empower Employees with our no-code, AI-enabled, Intelligent Automation platform, allowing them to focus on controlling your outcomes for your business’ future growth and encouraging your teams to innovate making them feel challenged, valued and engaged. That in turn, positively impacts employee performance, job satisfaction and drives better business outcomes.
Find out the potential of P2P automation to your organisation with our ROI tool.
~40% of Procurement tasks are currently automatable, and may double in the near future ” – Mckinsey ‘Shifting the dial in procurement’
The Aurora AI-Powered P2P Solution
Predictive Sourcing & Analytics
Using Artificial Intelligence to predict your sourcing requirements ensuring you are buying the right goods, at the right time and at the right price. With access to ‘Predictive Analytics’ allowing you to leverage historical data to predict the trends and effects of your spend and sourcing strategies through an agile Business Process Management system.
Through the use of Intelligent Automation, you can remove the reliance on large System Integrators (SI), administration teams on or offshore providing on average a 40 percent increase in annual savings, 30 to 50 percent less time spent on transactional sourcing, and a 50 percent reduction in value leakage. Plus maximise the savings gained through predictive sourcing of the right goods, at the right time, and at the right price.
Automating administrative tasks such as the creation of purchase orders, invoice automation, 3-way matching, etc. with transparency across all stages of the procurement process saving employees’ time by eliminating manual tasks; decreasing the risk of error that can lead to duplicate invoicing and incorrect payment amounts or recipients. The result is a faster, leaner digitised business with employees creating opportunities to reduce costs and pursue new sources of value.
Streamlined & Agile Processing
Reducing cycle times across the procure to pay cycle by using machine learning to enable processes to become more efficient and agile. By empowering your employees they will create and control your AI-powered process automations allowing you to continually improve and reengineer your procure to pay process to deliver just in time efficiencies and enhanced customer experience.
Optimised Working Capital
The continual pressure to optimise working capital is driven by reducing costs and efficiently managing cash flows, purchasing strategies and supplier relationships. So minimising volatility and managing all supply chains. Through the use of our analytical dashboard and predictive analytics, you can analyse your sourcing data past & present, providing complete visibility of your procurement activities to enable you to make the right procurement decisions.
Improved Compliance & Control
Compliance management is built into the automation ensuring risk management is managed at every step of the process and mitigate all non-compliance events. We can you help you manage your Master Data Management (MDM) requirements using our suite of Intelligent Automation tools. With full integration across your operations to ensure compliance, control, and transparency in every step of the process.