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Improve your Procure-to-Pay Process with Silico

Procure-to-pay processes at large enterprises can be highly complex processes, involving many steps and several teams.

Business Process Simulation (BPS) with Silico helps you optimise the efficiency of your procure-to-pay process to generate cost savings and cash improvements, manage supply chain risks, and improve supplier relationships. Your transformation teams can use Silico to analyse your current, as-is procure-to-pay process, test alternative process designs digitally, and thereby optimise the ROI of your transformation initiatives and process changes.

Create a Digital Twin of your procure-to-pay process to continuously monitor, analyse, and optimise it – from initial purchase requests and POs, through goods and invoice receipts, all the way to vendor payment. Silico is built from the ground up to expand your procure-to-pay Twin into a full Digital Twin of the Enterprise (DTE) iteratively, with value generated at each step at minimum risk, time, and cost. Start your company’s DTE journey and rapidly expand your FutureSight into supply chains, capacity, and inventory management.

Silico lets us make future decisions that benefit the whole organisation rather than individual business units and promotes transparency to align stakeholders around change initiatives.

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Company

We have a range of other process mapping solutions including SAP but Silico makes it easier for us to understand and interact with the model.

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Company

With Silico, we can iteratively develop business process simulation models that predict the impact of future changes on our order-to-cash process and link those directly to business outcomes and financials even where processes are not system-based and without months of data collection.

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Company

What are the Benefits of using Silico for your Procure-to-Pay Process?

Optimising your procure-to-pay process, whether through a transformation initiative or in ongoing operations – maximises process efficiency, improves working capital management, and reduces supply chain risks by fostering vendor relationships.

Increase process efficiency:

Increase process efficiency and reduce costs: Maximise the impact of your transformation initiatives by identifying where process reengineering, digitalisation, and automation are most effective in streamlining your procure-to-pay process.

Optimise working capital:

Optimise working capital management: Ensure procurement, goods receipt, and payment are optimised for your bottom line, cash balance, and working capital with Silico’s Twins connecting processes to finances.

Improve vendor relationships:

Improve vendor relationships and reduce supply chain risks: Use supply chain intelligence to build better supplier and vendor relationships that mitigate supply risks.

How to get started with your Procure-to-Pay Simulation

Silico can simulate your procure-to-pay process and evaluate alternative process designs in four weeks with an understanding of your current process, for example, from process maps or generated in Silico with your team.

We would also require realistic values for relevant variables such as processing times and available resources and your ideas for process changes.

A full Digital Twin of your procure-to-pay process also requires real-time data integration to your relevant systems and an understanding of decisions and problems of your operational decision-makers

How it Works...

Let’s take a look at how a procure-to-pay process simulation model works with Silic:

Build the Digital Twin:

Develop a causal map of your existing procure-to-pay process and set variable values based on information from, for example, process mining or other analytics.

Connect to real-time data:

Integrate the Silico Digital Twin into relevant systems, such as your enterprise resource management (ERP) system.

Gain FutureSight:

Generate forward-looking recommendations to optimise process efficiency and working capital management by optimising process designs and resource allocations.

Monitor and Control:

Monitor and Control: Continuously analyse the procure-to-pay process. Silico alerts you to problems ahead of time, including changes to backlogs and queues, lead times, and their financial implications

Grow towards a DTE:

Iteratively expand the procure-to-pay Twin into a full DTE to gain holistic oversight over your entire organisation while generating value at each iteration at minimum risk, time, and cost.

Build the Digital Twin:

Develop a causal map of your existing procure-to-pay process and set variable values based on information from, for example, process mining or other analytics.

Connect to real-time data:

Integrate the Silico Digital Twin into relevant systems, such as your enterprise resource management (ERP) system.

Gain FutureSight:

Generate forward-looking recommendations to optimise process efficiency and working capital management by optimising process designs and resource allocations.

Monitor and Control:

Continuously analyse the procure-to-pay process. Silico alerts you to problems ahead of time, including changes to backlogs and queues, lead times, and their financial implications.

Grow towards a DTE:

Iteratively expand the procure-to-pay Twin into a full DTE to gain holistic oversight over your entire organisation while generating value at each iteration at minimum risk, time, and cost.

Download our Business Process Simulation Guide

Are you looking to learn more about Business Process Simulation and how it can help you to build a digital twin of the enterprise? Download our free guide to get up to speed:

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