Citi® Procure to Pay
Streamlining the Accounts Payable Process for End-to-End Value
Citi® Procure to Pay Overview
Critical business needs are driving the demand for financial supply chain solutions. Organizations are seeking automated solutions to reduce the processing costs and error rates of paper-based systems, increase efficiencies and optimize working capital-all of which ultimately increase shareholder value. From capturing discounts to reducing supply chain risk, the market need for invoice and payment automation is growing.
Citi Procure to Pay streamlines the accounts payable process for end-to-end value. This innovative product works as one comprehensive solution or as three standalone solutions: Electronic Invoice Automation, Electronic Payments and Working Capital Services.
Citi's Procure to Pay offers:
- Reduced processing costs, errors, duplicate payments, and cycle times due to invoice and payment automation
- Increased speed and efficiency of payables process
- Working capital optimization through three best-in-class, strategic solutions: Discount Management, buyer-initiated Purchasing Cards and Supplier Finance
- Supplier enablement and data registry managed by Citi
- The largest global supplier network with the ability to activate suppliers for electronic invoicing more quickly than any other provider in the marketplace
- Increased visibility into accounts payable spend
- Fewer supplier inquiries as a result of rich remittance data and increased payment visibility for suppliers
- Reporting and analytics across all modules that enable informed decision making
- Seamless integration with ERP systems: ACH and Purchasing Card transactions use single file sent from ERP to Citi® Payment Gateway