Whois & Analysis for procurewizard.com

Purchase-to-pay, often abbreviated to P2P and also called req to cheque, refers to the business processes that cover activities of requesting (requisitioning), purchasing, receiving, paying for and accounting for goods and services.

Also commonly referred to as procure-to-pay.

In commerce, supply chain management (SCM), the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption.

Interconnected or interlinked networks, channels and node businesses combine in the provision of products and services required by end customers in a supply chain.

Supply-chain management has been defined as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally.".

Time and attendance systems (TNA) are used to track and monitor when employees start and stop work.

A time and attendance system provides many benefits to organizations as it enables an employer to have full control of their employees working hours as it monitors late arrivals, early departures, time taken on breaks and absenteeism.

It also helps to control labor costs by reducing over-payments, which are often caused by paying employees for time that are not working, and eliminates transcription error, interpretation error and intentional error.

TNA systems are also invaluable for ensuring compliance with labor regulations regarding proof of attendance.

All of these benefits provide both employer and employees with confidence in the accuracy of their wage payments all while improving productivity.

Procurement software is business software that helps to automate the purchasing function of organizations.

Activities including raising and approving purchase orders, selecting and ordering the product or service, receiving and matching the invoice and order, and paying the bill is handled electronically, enabling the procurement department to see everything that is ordered, ensure that nothing can be ordered without correct approvals, and lets them get the best value by combining several orders for the same type of good or even getting suppliers to bid for the business.

Buying organisation's choice can be driven by the particular strengths offered by each individual system and the number of vendors available through them.

A multinational or otherwise large organization will use a shared procurement system to take advantage of economies of scale to drive down the cost of purchases.

While traditionally most e-procurement software systems have been designed for larger organizations, there are now also systems available for the SMB market, such as the Free-Procurement Project by SpendMap and an open source alternative by ProcuMan.

Whilst some services are available to purchase through automated systems, the key strength of these systems lies in the procurement of commodities that are much easier to standardise.

Peer-to-peer (P2P) computing or networking is a distributed application architecture that partitions tasks or workloads between peers.

Peers are equally privileged, equipotent participants in the application.

They are said to form a peer-to-peer network of nodes.