The Purchase to Pay Process

In the wake of the Sarbanes Oxley Act, the need for stronger internal financial controls has grown, particularly the need for stricter purchase to pay (also known as procure to pay) processes.

Tracker products include Purchase Tracker, a solution for the purchase to pay process, from purchase request creation to reporting of purchases.

• Purchase Tracker provides a vendor database that simplifies vendor relationship management. Purchase order forms are automatically populated with address and contact information after a vendor has been selected.
• Purchase Tracker enforces strict approval routing of purchase orders, with electronic signatures to track document activity throughout the process.
• Purchase Tracker improves the PO number assignment, tracking and invoicing of approved purchase orders.
• In addition, through the Tracker Data Warehouse, Tracker can generate detailed financial reports, including Purchase Lists and Purchase to Payment reports.