Purchase to Pay
FinShare’s Purchase to Pay simplifies trade on open account terms, enabling Buyers to manage domestic and cross-border transactions with transparency and control. FinShare seamlessly integrates connections and interactions with its partners through the entire purchase-to-pay cycle, starting from online PO issuance to payment and settlement.
1.Buyer uploads Purchase Order (PO).
2.Seller creates shipment on FinShare.
3.Outside of the system, Seller ships goods to Buyer.
4.FinShare data matches shipment against PO automatically and resolves discrepancies.
5.Buyer creates payment instructions on FinShare.
6.Payment on maturity date
a) Bank debits Buyer.
b) Bank credits Seller.