Features and Benefits of P2P
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. |