What is Advanced Budgeting (P2P) - Fund Request approval?

This solution empowers organizations to evaluate business alternatives and set targets for utilizing the budget for purchase operations at each account line level. Advanced Budgeting (P2P) streamlines the procurement process with fully automated budget utilization, real-time calculations, and flexible workflow levels. The solution guarantees improved efficiency, better decision-making, and enhanced visibility into budget utilization throughout the procurement process. Department wise multiple budget plans help to control the Fund request approval process for creating the purchase requisitions, Purchase orders, Vendor bills, writing checks, Journals, and bill credits to Vendors.

Key Benefits of Advanced Budgeting (p2p) - Fund Request approval

• Fully Automated budget utilization on end-to-end procurement process.
• Increase collaboration with business stakeholders and drive better decision-making on procurement.
• Drill across budget, forecast, and actuals to see the impact on business performance.
• Department-wise FRA utilization and balance availability.
• One FRA will have multiple PR/PO approved transactions.
• Flexible Advanced workflow levels on fund request process and budget utilization.
• Real-time calculations on budget and FRA utilization.
• Easily applies partial FRA payments to PR and Standalone Purchase orders.
• Flexibility to import FRA transactions with different budget categories and departments.
• Separate Record for Fund Request approval process between budget and purchase process.

Key Features of Advanced Budgeting (p2p) - Fund Request approval

• Gain a 360-degree view of procurement budget account level utilization.
• Track FRA-related records, i.e., PR, PO, and Bill, with the utilization process.
• Get a complete view of your department-wise budget across your entire organization.
• FRA and Budget Utilization Dashboard displays consolidated procurement transactions and records on one page; key information is available as reports and reminders.

Reachware

Reachware is an integration platform in which many individual subsystems are combined into a single, larger system allowing the subsystems to work together. Reachware allows any SaaS systems such as NetSuite, Revel, Vend, Xero, Magento, Zed, Qoyod, Shiji PMS, or any other product to achieve the overall functionality required by the organization.

In most organizations there is a need to improve the efficiency and thus the productivity and quality of their operations, so their goal is usually to get the different applications and systems to communicate with each other to avoid the time and effort involved in manually operation with other systems of the organization. With Reachware, organization will see increased information flow speeds and higher process automation as well as lower operating costs.