|
|
| PURCHASE ORDER to PAY
(PO2P) |
| |
PO-To-Pay (PO2P):Web-based
collaboration and process control of the PO2P life cycle
Open Account PO
Transactions: Open Account set-up and PO link
Event Driven Tracking and
Financing:Provide transaction visibility to reduce financing
risk
|
| |
|
Total Solution Managing Supply Chain
Movement
As the leading provider of financial supply chain solutions, Premium
Technology has achieved another major breakthrough by incorporating
with Purchase Order-To-Pay (PO2P) System to our product suite. Our PO2P
product provides buyers, suppliers and financial institutions a total
solution to streamline the entire life cycle of international trade.
PO2P is a web-enabled, Purchase Order tracking system which
incorporates reconciliation of Purchase Order to Pro-Forma Invoice,
Commercial Invoice and Accounts Payable application. It integrates all
functions including buyer/seller online negotiations, Purchase Order
(creation, approval and invoice management), and event-tracking for
inventory. This application utilizes a powerful document generation and
management module that enables the system to record and track all
information necessary for international trade. This product allows
corporations and financial institutions to know in advance actual costs
of goods being delivered, as well as charges and fees that may occur
during transit to be reconciled against the Purchase Order prior to
goods being delivered.
Integration
of Multi-Parties and Workflows
PO2P integrates the workflow associated with processing global trade
information, fostering a friendly, smooth and productive environment.
Buyers, suppliers, logistics providers, and financial institutions can
effectively monitor and modify if necessary, physical information and
financial flows associated with the global supply chain. This feature
provides all parties complete visibility, lowers trade risks and
processing costs.
Advanced Web Technologies
PO2P is based on the cutting edge web technologies including Java/ J2EE
and XML. PO2P has great scalability and flexibility. It meets global
requirements without limitation in time zones, distance and
localization.
|
|
Key Features
- Purchase Order Manager
- Event-Tracking
- Matching and Reconciliation
- Open Account Management
- Collaboration / Negotiation
Business Benefits
- Visibility and Access to
Trade Movement
- Increase Operational
Efficiency
- Error Reduction
- Event Tracking
- Online Real-Time Negotiation
- Process Efficiency Increases
|
 |
|
| |
|
Key Features
| Purchase Order Manager |
- Web-based
Collaboration/Negotiation between buyer/seller
- Automated uploads of POs to
PO Manager Module
- PO Manager provides
reconciliation of POs to Invoices & A/P
- Both buyers and sellers have
online real-time views of POs,Invoice’s, shipping documents, and status
of goods.
|
- Open Account agreement
set-up (Buyer/Seller)
- Based on reconciliation,
generates payment instructions
- Buyers match documents and
resolve discrepancies
- Buyers review PO, Pro-Forma
& Commercial Invoices,and Shipping Documents
|
| Event-Tracking |
| Purchase
Order-to-Pay tracks and monitors the location and status of goods in
transit from suppliers warehouse floor to final destination. |
| Matching and Reconciliation |
| Reconcilement
between the Purchase Order, Pro-Forma and Commercial Invoices, and the
customer's Accounts Payable system. This allows financial institutions
and their customers to know in advance the time of delivery and the
actual costs of goods being delivered (i.e. Charges, Customs duties,
Miscellaneous Fees, Changes to the goods being delivered, etc). |
| Open Account Management |
| In global
trade, Open Account is an attractive lower cost method of international
trading. Goods are shipped and documents are remitted directly to
buyer, with a request for payment at the appropriate time. This payment
method is advantageous for the buyer, in terms of cash flow and costs.
Thus, more and more buyers are utilizing Open Account. Premium
Technology's Purchase Order-to-Pay application has a built-in tracking
system that provides both buyers and sellers greater visibility into
the Purchase Order and delivery process . Usage of this application
will mitigate risks and lower costs. |
| Visibility & Access |
The
following Diagram illustrates some of the parties involved in trade
movement. Some or all of these parties can or may need access for
viewing or entering of information.
|
|
| |
|
|
|
|
|
|
