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Procure-to-Pay solutions from Qube Horizon

Procure-to-Pay solutions from Qube Horizon

With Procure-to-Pay solutions from Qube Horizon you can bring all your P2P processes together under a single platform. Benefits of our Procure-to-Pay system functionality include:

  • Visibility over your transaction lifecycle
  • Improved efficiency and accuracy
  • Time and money savings
  • Elimination of paper with Intelligent Invoice Scanning software
  • Automation of P2P processes including automatic approvals

Qube Horizon Procure-to-Pay system connects spend from across your entire real estate portfolio, from purchase requisitions to purchase orders and accounts payable invoices.

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Procure-to-Pay solution features

Features of Qube Horizon Procure-to-Pay solutions include:

  • Online approval process supporting separation of duties and delegated authorities
  • Goods/service receipting
  • Automatic accruals on outstanding orders
  • Automatic AP financial analysis from of purchase orders details
  • Inbuilt withholding tax capability
  • Intelligent Invoice Scanning software
  • Mobile Accounts Payable App

This functionality allows you to record, manage and control the full lifecycle of the payment processes across your portfolio.

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P2P cycle

Raising a purchase order

A purchase order can be raised for any item of expense that needs to be monitored and controlled in Qube Horizon. An order may cover one or more properties or entities; thus, an order can reflect overhead costs incurred against a variety of different entities (e.g. audit fees for several companies) or maintenance work for a particular asset (Qube Horizon integrates facilities management directly into the purchase order workflow).

The client can decide to have a mandatory order policy or selectively implement it for parts of the portfolio; for instance, it may be switched on for all overhead expenditure but may be left off for operational properties where most expenditure is recovered from tenants.


Approving orders

A central workflow controls the process of raising and approving orders and is designed to support direct online approval, with each user having an authority limit. This segregates the creation of orders from their approval to ensure that the end-to-end process is transparent and complies with best practice. Purchase orders can be distributed via email, fax or hard copy. Qube Horizon will automatically accrue the un-invoiced value of any order outstanding at month end to reflect your commitments in the general ledger.


Order receipts

Once goods or services are received under an order, it can optionally be receipted. The value received can also be recorded against each line of committed expenditure. This enables Qube Horizon to then match an order against the resulting supplier invoice up to the receipted value; otherwise Qube Horizon will use the total available committed value of the order for matching purposes.

In both instances, a tolerance will accommodate slight alterations in values between the time the order was raised and when the work was invoiced; Qube Horizon has an automated warning system that prevents matching of items outside the tolerance value. Users with the required authority have the ability to override or escalate this warning to facilitate urgent payments. Otherwise, where there are material differences, Qube Horizon controls expenditure by ensuring the original order must be amended and reissued to reflect the agreed price changes.


Accounts Payable

Accounts Payable is fully integrated with the Purchase Ordering module, when PO processing is adopted for some or all purchases, then the financial analysis of the order will automatically be utilised for the invoice received.

Accounts Payable is fully integrated with the Horizon Service Charge module. This allows expenditure to be automatically associated with the cost recovery schedules from Tenants. In addition, Accounts Payable is also integrated with the Horizon Accounts Receivable module. As a result, recoverable costs that are directly billable to the tenant, such as breakages, can be automatically directed through to Tenant invoicing.

Accounts Payable supports flexible approval levels, and includes different rules for capital and revenue expenditure and recoverable and non-recoverable costs. In addition it supports multiple options for cash management – including centralised disbursement accounts, non-centralised accounts and capital accounts – while also supporting funds testing all via the integration with the Cash Book.

The Accounts Payable mobile app allows managers to approve, reject and contact suppliers while out of the office; this not only improves the payment cycle, but allows managers to control their property costs on site.


Intelligent Invoice Scanning

With Intelligent Invoice Scanning software from Qube Horizon, you can harness the power of the cloud to make accounts payable more agile and efficient.

Using the technology of the ReadSoft platform, under our partnership with the Kofax group, we can offer market leading, automated scanning software. Because the solution is cloud based, it is seamlessly integrated with Qube Horizon.

Our Intelligent Invoice Scanning software validates and verifies invoices against Purchase Orders and automatically creates invoices that can be approved for payment either online or via the AP mobile app.
Find out more about Intelligent Invoice Scanning

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