Paymetric extends p-card processes within SAP, allowing companies to manage card purchases throughout procure-to-pay process in ERP system
Orlando, FL April 5, 2006 Paymetric, a provider of payment card solutions, is rolling out purchasing card expense management capabilities for enterprises running SAP with the newest generation of its XiBuy solution in a move to reposition purchasing cards from a non-strategic payment vehicle to an SAP business process enabler.
Purchasing cards can reduce the cost and increase the efficiency of corporate purchasing. Yet most organizations manage card transactions outside of the SAP enterprise, an approach that inhibits financial supply chain efficiencies, as Paymetric sees it.
Paymetric said that its XiBuy 2.0 solution integrates purchasing cards with SAP enterprise resource planning (ERP) systems at the onset of the order creation, subjecting purchasing card transactions to the same requisition-to-order process as traditional orders in SAP.
Using a P-Card on the PO
With Purchase Order Expense Management, a new module in XiBuy 2.0, a purchasing card can be designated on a purchase order in lieu of checks, ACH and other "labor-intensive" forms of payment. Soon after a card purchase, XiBuy 2.0 makes the transaction detail available in SAP.
Transactions initiated in SAP with XiBuy can be reconciled automatically or manually with their purchase orders, while transactions initiated outside of SAP can be reallocated, approved and posted. XiBuy uses the resulting card transaction to create an invoice receipt, thus completing the three-way match between the purchase order, the goods receipt and the invoice.
XiBuy 2.0 supports multiple card programs, allowing purchasing cards, travel and entertainment cards, and multi-issuer card programs to be centrally managed through one solution, according to Paymetric. XiBuy 2.0 supports MasterCard, Visa and American Express card programs.
Viewing Data in SAP
The program also leverages SAP's change document functionality, improving the card audit trail by tracking reallocations and other detail changes made to transactions. The new user interface found in XiBuy 2.0 adheres to SAP design principles, which can help users quickly become proficient in its use, the solution provider said.
Paymetric said that by using XiBuy 2.0, organizations have the opportunity to improve purchasing card program efficiency, visibility and control by viewing financial and transaction data centrally within SAP; extend purchasing card spend to additional spend categories, including services and direct materials and other high-value purchases; allow a purchasing card to be assigned to an SAP purchase order and reconcile the resulting transaction in SAP's FI module; and streamline month-end reconciliation.
"The inefficiencies of integrating and reconciling card transactions with the procurement process is a primary reason why most organizations relegate purchasing cards to low-value, high-volume transactions that don't require purchase orders," said Greg Tonini, product manager for procurement solutions at Paymetric. "XiBuy 2.0 removes the disconnect between purchasing cards and purchase orders, enabling organizations to maximize efficiency, gain control, facilitate card program growth and realize other inherent advantages of card use. With XiBuy 2.0, purchasing cards become a strategic component of total spend management."
XiBuy 2.0 features SAP certified integration and is certified for SAP NetWeaver. Working natively within SAP, XiBuy 2.0 utilizes SAP's controls and validations as it allocates, approves, posts and reconciles purchasing card transactions. This central repository for financial and transactional data reduces the number of applications required for card program management and accelerates approvals through real-time validation, Paymetric said.
Additional Articles of Interest
What the year ahead holds for the purchasing card and why you may want to give your p-card program another look. Read more in "The Net Best Thing: P-Card Update," in the February/March 2006 issue of Supply & Demand Chain Executive.
Is your spend management program meeting its full potential? For a step-by-step process guide for the Procurement organization, read "How to Fulfill the Spend Management Promise," exclusively on SDCExec.com.
Orlando, FL April 5, 2006 Paymetric, a provider of payment card solutions, is rolling out purchasing card expense management capabilities for enterprises running SAP with the newest generation of its XiBuy solution in a move to reposition purchasing cards from a non-strategic payment vehicle to an SAP business process enabler.
Purchasing cards can reduce the cost and increase the efficiency of corporate purchasing. Yet most organizations manage card transactions outside of the SAP enterprise, an approach that inhibits financial supply chain efficiencies, as Paymetric sees it.
Paymetric said that its XiBuy 2.0 solution integrates purchasing cards with SAP enterprise resource planning (ERP) systems at the onset of the order creation, subjecting purchasing card transactions to the same requisition-to-order process as traditional orders in SAP.
Using a P-Card on the PO
With Purchase Order Expense Management, a new module in XiBuy 2.0, a purchasing card can be designated on a purchase order in lieu of checks, ACH and other "labor-intensive" forms of payment. Soon after a card purchase, XiBuy 2.0 makes the transaction detail available in SAP.
Transactions initiated in SAP with XiBuy can be reconciled automatically or manually with their purchase orders, while transactions initiated outside of SAP can be reallocated, approved and posted. XiBuy uses the resulting card transaction to create an invoice receipt, thus completing the three-way match between the purchase order, the goods receipt and the invoice.
XiBuy 2.0 supports multiple card programs, allowing purchasing cards, travel and entertainment cards, and multi-issuer card programs to be centrally managed through one solution, according to Paymetric. XiBuy 2.0 supports MasterCard, Visa and American Express card programs.
Viewing Data in SAP
The program also leverages SAP's change document functionality, improving the card audit trail by tracking reallocations and other detail changes made to transactions. The new user interface found in XiBuy 2.0 adheres to SAP design principles, which can help users quickly become proficient in its use, the solution provider said.
Paymetric said that by using XiBuy 2.0, organizations have the opportunity to improve purchasing card program efficiency, visibility and control by viewing financial and transaction data centrally within SAP; extend purchasing card spend to additional spend categories, including services and direct materials and other high-value purchases; allow a purchasing card to be assigned to an SAP purchase order and reconcile the resulting transaction in SAP's FI module; and streamline month-end reconciliation.
"The inefficiencies of integrating and reconciling card transactions with the procurement process is a primary reason why most organizations relegate purchasing cards to low-value, high-volume transactions that don't require purchase orders," said Greg Tonini, product manager for procurement solutions at Paymetric. "XiBuy 2.0 removes the disconnect between purchasing cards and purchase orders, enabling organizations to maximize efficiency, gain control, facilitate card program growth and realize other inherent advantages of card use. With XiBuy 2.0, purchasing cards become a strategic component of total spend management."
XiBuy 2.0 features SAP certified integration and is certified for SAP NetWeaver. Working natively within SAP, XiBuy 2.0 utilizes SAP's controls and validations as it allocates, approves, posts and reconciles purchasing card transactions. This central repository for financial and transactional data reduces the number of applications required for card program management and accelerates approvals through real-time validation, Paymetric said.
Additional Articles of Interest
What the year ahead holds for the purchasing card and why you may want to give your p-card program another look. Read more in "The Net Best Thing: P-Card Update," in the February/March 2006 issue of Supply & Demand Chain Executive.
Is your spend management program meeting its full potential? For a step-by-step process guide for the Procurement organization, read "How to Fulfill the Spend Management Promise," exclusively on SDCExec.com.
- More articles about Paymetric.
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