Payment Terms Governance
Set up payment terms correctly and monitor accuracy of purchasing documents.
Manage Payment Terms Across All Integrated Systems
Payment Terms Governance represents a set of four indivisible applications designed to establish correct payment terms for purchasing documents.
5 reasons why you should consider Payment Terms Governance as a tool for simplifying payment terms management
The major objective of Payment Terms Governance is to enable a right choice of payment terms for all documents created across any SAP system.
Eliminate any uncoordinated activities from purchasers.
Avoid random payment terms selection and forget about chaotic actions.
Maintain payment terms in a centralized way.
Track all purchasing documents without efforts after connecting Payment Terms Governance to your SAP systems.
Define which payment terms work best for specific purchasing documents with the help of Payment Terms Governance.
One application group provides multitasking functionality to its users
Each of the four applications within the Payment Terms Governance group performs a set of functions thus ensuring smooth payment terms management.
Request Payment Terms
- The first step is creating central payment terms in the app
- A responsible person well aware of all organizational procedures makes a request for payment terms
- Payment terms are related to the procurement strategy
Payment Terms Rules
- Set up payment terms regulations
- Specify criteria using purchasing attributes (purchasing organization, purchasing group, country, etc.)
- Restrict payment terms usage if necessary
Monitor Payment Terms
- Check purchasing document details against payment terms rules
- Choose a correct payment term for each document
- Consider ‘proposed’ payment terms as alternatives in case a payment term gains an ‘at risk’ status
Manage Payment Terms Mapping
- Map payment terms across the SAP systems
- Link all SAP systems together
Payment Terms Governance is about clear distribution of roles
To enable better transparency of the process, Payment Terms Governance introduces three roles with certain areas of responsibility — Strategic Purchaser, Administrator, and Operational Purchaser.
- Request new payment terms
- Create rules of payment terms usage
- Inform operational purchasers about the irrelevant usage of payment terms in purchasing documents
- Update purchasing documents if there is a need
- Create payment terms
- Map payment terms across all SAP systems within a company
- Make different types of purchasing documents
- Use proper payment terms in the purchasing documents they produce
- Follow the rules already set in the application
- Verify the accuracy of purchasing documents
Contact us to set up an initial discussion and demonstration.