Features and Benefits of P2P


Benefits

The key features and benefits of P2P are summarised below:-


FEATURES

BENEFITS

User-friendly web-based access

Easy to learn and can be accessed anywhere within University firewall.

Provide commitment reporting thus allowing for full-transparency of actual spend vs. budget

Chief Investigators and Cost Centre Heads will be better able to control expenses.

Reduce turnaround for purchase of goods

Goods can be put to use quicker.

Elimination of paper requisitions

Data can't be lost, and can be easily retrieved with a Report.

Online purchase requisition approval (electronic workflow-based)

Approver can be electronically notified through email and approve requisition at their desk.

Electronically track progress of requisition

 

Users can easily tell what stage the requisition is at in the lifecycle, e.g. User can see if the requisition has been sourced into a PO but has not been receipted yet.

Integrated Purchasing and Payment solution. Data entered in the Requisition is recycled to a PO, to a Receipt, to a Voucher, to a Payment.

No need to acquit in Spendvision. Users can simply receipt goods instead.

A university-wide, procurement system supported by standard processes and controls

Reduced complexity and costs to administer the system. Also increased understanding across the university and interchangeable performers.

Improved procurement-to-payment process efficiencies e.g. reduced paperwork, electronic invoicing and matching etc

Saves time and money.

 

Elimination of non value-add activities e.g., multiple paper quoting

Saves time and money.

Single source of truth for procurement data, increasing transactional data quality and integrity

Enables Procurement Service to produce better spend analysis and supplier performance analysis.

Single system facilitates effective procurement spend analysis

Enables Procurement Service to bargain with suppliers to provide improved service and prices for University clients.

Support and adhere to the University's Purchasing Policy

Reduces the risk of inappropriate or fraudulent purchasing behaviour.