From request to order
Procurement starts with a need. Staff raise a requisition for what they need, with the dimensions finance reports on, such as cost centre. Predictiv routes the requisition through workflow to the person who can approve it, and managers can approve from a phone or from chat as well as at a desk.
You turn approved requests into purchase orders to the supplier, in the supplier’s currency. Predictiv records prices, quantities and delivery dates on the order, and checks every later step against it.
Receiving the goods
Goods are received against the purchase order. Predictiv moves the stock into the right warehouse at once and records the quantity received beside the quantity ordered. You return anything short, damaged or wrong to the supplier, and Predictiv reverses the stock and the value on the same record.
Because Predictiv posts receipts to inventory and to the ledger together, the stock balance and the accounts agree from the moment you receive the goods.
Matching the invoice
When you receive the supplier’s invoice, Predictiv matches it to the order and the goods receipt. You pay for what you ordered and what you received, at the price you agreed.
Supplier invoices do not have to be keyed. When you drop a document on the window or send it in chat, Predictiv extracts it into a draft record, such as a supplier invoice or purchase order, and a person confirms it before it is saved. Predictiv stores the supplier’s own reference on each invoice, so you can find it and check it against the supplier’s statement. See documents for how this works.
Checking the payment
Before any supplier is paid, Predictiv checks the payment pack for:
- a complete pack and a three-way match that holds
- the supplier’s fiscal invoice, against the tax authority’s records
- the supplier’s tax compliance
- the bank details, against those on file
- duplicates, and the approvals the payment needs
Predictiv then recommends release, hold or review.
This is accounts-payable control. Predictiv recommends whether a payment should go, and a person makes that decision. Withholding tax and VAT are calculated on the payment itself. The detail is on the finance page.
Suppliers who serve themselves
On the business partner portal, each supplier sees its own purchase orders, receipts, invoices and payments, so suppliers no longer telephone to ask where their money is.
Suppliers also upload compliance documents such as tax clearance or bank confirmation. Predictiv extracts the details from each document, a person reviews the result, and Predictiv creates the supplier’s vetting record on approval. Supplier paperwork is processed when it is uploaded instead of being left in a mailbox.
What makes it different
Purchase-to-pay usually spans an ERP, an approval tool, a supplier portal and a spreadsheet of payment checks. In Predictiv they are all on one record. You can trace the requisition, the order, the receipt, the invoice and the payment each to the one before, and Predictiv runs the same checks on every payment.
Procurement is also connected to the rest of the business. The stock you receive is what manufacturing consumes and what maintenance issues as spare parts, and Predictiv posts every purchase to the ledger as it happens.