Procure to Pay

Blockchain-based Procure-to-Pay Development Services

Procure-to-Pay (PTP) is a comprehensive process that links a client with one or more service or product providers. It also includes stakeholder identification and authentication, budgeting, invoicing and payment settlement.

Blockchain Based Procure-to-Pay Development Services

Threats in the Conventional Procure-to-Pay (PTP) Process

The Procure-to-Pay process is a complex business operation that involves multiple systems and workflows, making it susceptible to fraud, money laundering and inefficiencies. As a crucial process with significant cash flows, it faces numerous challenges related to operational procedures, transactions, Supply Chain visibility. The existing procure-to-pay system is plagued by inefficiencies, including manual, time-consuming tasks, duplicate data, and various reconciliation issues.

Effective Execution and Management

Common PTP Challenges Impacting Effective Execution and Management

The following are common PTP challenges that hinder the effective execution and management of key activities.

  • Reduced Preciseness

    A manual, paper-based data entry process increases error risks, leading to inaccuracies and inefficiencies in data handling.

  • Deferred Transactions

    Manual routing and sign-off processes slow down payments, causing delays and inefficiencies in the financial workflow.

  • Inadequate Visibility

    Delays in exchanging and accessing information throughout the supply chain create inefficiencies and complicate decision-making.

Security Features - Nadcab Labs Blockchain Procurement Solution



We strengthen our Blockchain Based Supply Chain Solution with multi-layered security to guarantee safe processes throughout the PTP chain.

SSRF Protection
(SSRF) Protection
CSRF Protection
(CSRF) Protection
Anti Denial Service
Anti-Denial of Service
HTTP Authentication
HTTP Authentication
Escrow System
Escrow System
Coded Data
Coded Data
Jail Login
Jail Login
HTTP Protection
HTTP Protection

Blockchain Technology can revolutionize the procure-to-pay process by improving transparency, security and efficiency. It also streamlines operations by automating information exchange. Nadcab Labs uses blockchain to create a comprehensive Procure-to-Pay Solution that handles everything from invoice processing to data and funds management, ensuring timely payments while reducing value leakage and operational costs. Our solution delivers significant business value by helping clients achieve these benefits:

Smooth Onboarding

  • Blockchain Based KYC or digital identity verification speeds up user onboarding and offers a centralized repository of verified documents, which can be easily accessed by authorized requesters.

Invoice Processing

  • Blockchain technology streamlines invoice exchange by providing shared database access and eliminating scanning. Authorized parties can directly review transactions, removing the need for reconciliation.

Quick Settlement

  • Complete transparency and real-time access to the shared database eliminate reconciliation needs, potentially transforming traditional practices like the D+30 days settlement period.

Enhanced Authentication

  • Blockchain facilitates the rapid distribution of authentication rights throughout the procure-to-pay chain, thereby preventing fraud and enhancing security across the PTP process.

Increased Trust Among Stakeholders

  • Shared public IDs, fair ratings based on product quality, delivery reliability, timely invoice payments, and transaction history foster trust and transparency in the PTP process.

Lowered Risk of Money Laundering

  • Real-time access to permanently stored, tamper-proof historical payment information simplifies the detection of suspicious transactions and reduces the risk of money laundering.

Why Choose Nadcab Labs

Count on the team of experts at Nadcab Labs to swiftly implement your B2P Blockchain Dolution for procure-to-pay.

Defined Mission

Defined Mission

24/7 Support

24/7 Support

Reduced Production Cost

Reduced Production Cost

Security-Centric Approach

Security-Centric Approach

Nadcab Labs Software Components Include

Admin Panel

  1. Dashboard with Buy/Sell & Send/Receive transactions.

  2. Manages profiles, funds, token creation, & distribution.

  3. Real-time reports on users, transactions, & revenue.

  4. Real-time view of exchanges & transactions.

  5. Displays user details.

Exchange

  1. View transaction history and open orders together.

  2. Order book for crypto buy and sell prices.

  3. Cryptocurrency-to-fiat trading.

  4. Track real-time trading prices.

  5. 24-hour transaction history.

Wallet

  1. Allows management of various crypto wallets.

  2. Offers a real-time overview of transactions.

  3. Shows cryptocurrency and token balances.

  4. Displays fiat balances.

Smart Contract

  1. Enables automatic token transfers to users wallets.

  2. Enables ERC20 token creation for payments.

  3. Handles token supply management.

  4. Oversees token burning.

Characteristics of Blockchain-Based Supply Chain Solution


Our blockchain-based supply chain solution is equipped with industry-leading features to ensure exceptional performance.

  • Superior Matching Engine:

    The powerful matching engine rapidly pairs buy and sell orders. When you need to purchase a token for transactions on the platform, you can trust that your order will be completed with minimal latency.

  • Management of Funds:

    The funds' management system streamlines fund administration and provides key details such as the total token supply, the number of tokens in circulation, and additional information.

  • Multi-Currency Wallet:

    The multi-currency wallet integration allows for the secure storage and transfer of a wide range of cryptocurrencies and tokens, ensuring safe transactions on the platform.

  • Immediate KYC & AML:

    Blockchain-Based KYC and AML verification processes speed up user identity verification and streamline onboarding whenever a new user joins the procure-to-pay chain.

  • Reporting Dashboard:

    The user-friendly reporting dashboard offers access to balance and transaction reports, enhancing transparency and supporting informed decision-making.

  • User Management:

    The powerful user management system facilitates stakeholder management, including blocking or suspending users. It also handles user logins, privileges, permissions, and roles effectively.

  • Manifold Security:

    The platform is fortified with multi-layered security through the use of advanced solutions such as two-factor authentication, encrypted user access, SSL implementation, and more.

  • Liquidity Choices:

    High liquidity on the exchange is ensured by establishing a secure API connection with external exchange platforms, which helps fulfill buy and sell orders with minimal latency.

  • Smart Contract:

    The smart contract oversees the creation and distribution of crypto tokens to platform users. These tokens facilitate payments throughout the procure-to-pay chain.

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Frequently Asked Questions

A Procure-to-Pay blockchain solution is a digital system that uses blockchain technology to streamline and enhance the procurement and payment process, providing greater transparency, security, and efficiency throughout the supply chain.
Blockchain improves the P2P process by offering a secure, immutable ledger of transactions, reducing manual errors, preventing fraud, and ensuring real-time visibility and traceability of all procurement activities.
Using blockchain technology for the Procure-to-Pay (P2P) process allows you to create transparent, secure, and efficient transactions. Additionally, this technology enhances efficiency in key areas such as anti-money laundering (AML) and fosters greater trust in the process.
While it can also be used with fiat currencies, employing cryptocurrency as a medium of trade enables faster transactions, real-time tracking, and auditing, facilitating borderless ownership transfers.
Yes, Nadcab Labs expert team specializes in providing mission-driven services to create a custom PTP solution from scratch, as well as offering a white-label solution.
Nadcab Labs blockchain technology ensures data security through encryption, decentralized storage, and immutable records, protecting sensitive information from unauthorized access and tampering.
Our white-label solution accelerates deployment, enabling you to launch your PTP solution in just a few weeks. However, developing a custom solution will take longer, depending on specific business requirements.
Supplier management in P2P involves selecting, onboarding, and maintaining relationships with suppliers, ensuring that they meet quality and delivery standards, and managing contracts and communications.
P2P systems provide a clear audit trail for all transactions, ensuring that every step in the procurement process is documented and compliant with internal policies and external regulations.
It may include integrating existing systems, managing the transition from traditional processes, ensuring stakeholder adoption, and addressing regulatory and compliance issues.

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