Extend Your Source-to-Pay for Capex Excellence
Integrating cloud-based Finario with your procurement system and ERP further enhances your single source of truth for Capex. Supplier processes become shorter and more consistent. Terms are well-defined. Costs are better managed. Your data is always up-to-date, and your reporting more accurate and reliable. It’s how the modern enterprise is leveraging all of its internal assets to drive profitability and growth.
Building the Modern Finance Tech Stack
A “traditional” EPM shines for Opex, with a focus on departmental budgeting. Finario, an EPM purpose-built for Capex, is built around projects, which enables analysis and management of investments from idea inception through budgeting, approval, forecasting and post-completion review.
For enterprises with meaningful capital budgets, having an “EPM for Capex” is essential. Integrating with their ERP and procurement system provides a smart vision for the digital transformation of the finance department.
A DEEPER DIVE INTO THE FINARIO ONE PLATFORM:
CAPEX PROCUREMENT SOFTWARE INTEGRATION
The Finario API lets you connect your Capex workflow and management with leading sourcing/procurement solutions such as Coupa, Ariba and Jaggaer.
Engaging with procurement earlier in the process streamlines decision making, improves supplier selection and bidding, and aids in better planning of capital spend throughout the enterprise.
Perform better post-completion reviews, with the requisite data available to everyone on the project team to drive a culture of continuous improvement. Aggregated project-level ROI performance provides insights into trends that impact future strategies and choices.
— Operations Controller, Hoffmaster Consumer Products
What is the difference between Procure-to-Pay and Source-to-Pay software solutions?
Procure-to-Pay covers the requisition of products and services and the related processes that conclude with a payment for those goods by AP. Source-to-Pay incorporates more of the process, to include sourcing products and services, through financial reconciliation.
How does Capex Plan-to-Review differ from Source-to-Pay?
Capex Plan-to-Review describes the complete capital investment lifecycle, from project inception to post-completion review. From a technology standpoint, if it includes sourcing and procurement-related automation, that would be characterized as Procure-to-Pay or Source-to-Pay integration. In this scenario, in which a company’s ERP, S2P and or P2P and EPM for Capex are all integrated, data flows between them – ensuring data accuracy, timeliness, and better control over costs.