PPM provides a secure cloud environment with the highest transparency and visibility into the settlement workflow. Immediate access to project revenue and cost budget information helps you detect inconsistencies and potential fraud before they become significant problems.
Generate Invoices To Bill Your Client
PPM helps you to generate invoices to bill your client based on the payment terms specified in the contract or milestone completion in the project. If the contractual project is time-and-material based, PPM can automatically generate invoices based on approved timesheets and expense reports by the client and generate the invoices to bill the client accordingly.
Three-way Matching With Suppliers
With PPM, you can perform three-way matching between the delivery-and-acceptance document, supplier Invoice, and PO to check if you have received the order correctly and if there aren’t any discrepancies. Once three-way matching is complete, the invoice is approved and forwarded to payment processing.
Payment to Suppliers
PPM allows you to pay one or multiple approved invoices to the supplier. After your payment request is approved, your finance department will be notified to issue the payment.
After the “invoicing and receiving payment” or “invoice-received and payment-request” process, PPM will automatically make a record for bookkeeping and auditing purposes.
Traceability and Auditability
PPM allows a simple and cost-effective way for a business to investigate its transactions and invoices sent to its clients or presented by its suppliers. You can use PPM to examine invoice integrity prior to billing a client or paying a supplier. PPM provides valuable information on the status of an invoice and signals a warning when receivables are disputed or goods are undelivered.