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The Ministry of Finance (MOF) building in Bur Dubai. MoF on Wednesday announced the implementation of Procure-to-Pay (P2P), which facilitates the procurement process and e-approval of purchase orders and requests at various federal entities in the country. Image Credit: Virendra Saklani/Gulf News

Dubai: The Ministry of Finance (MoF) on Wednesday announced the implementation of Procure-to-Pay (P2P), which facilitates the procurement process and e-approval of purchase orders and requests at various federal entities in the country.

Entities can now approve the purchase requests and direct the purchase order to the supplier within minutes - if all the required documents are available. This reaffirms MoF’s excellence in the government’s financial work management and the application of federal financial systems during the remote work period.

“The Ministry of Finance continues to enhance its services and implement best practices in digital transformation. This is in line with the ministry’s strategic vision to be the leading government entity when it comes to using best practices in government financial work,” said Mariam Mohammad Al Amiri, Assistant Undersecretary for the Management of Financial Resources .

The application helps issuing practices and tenders according to procedures and regulations, and it conducts technical and financial evaluation as well as final awarding operations. It also enables suppliers to deliver invoices automatically through the suppliers’ portal, where the entities can approve them and complete the payment procedures without any manual action. The average invoice approval period is (5 days) - starting from the date the invoice submission by the supplier until the payment.

“MoF will continue to improve its financial procedures, especially those related to government procurement, in accordance with new systems, decisions and circulars. This is to keep pace with the changes, ensure the application of financial procedures at all entities, as well as the sustainability of procedures, in order to preserve the excellence of the federal government,” said Al Amiri.

The ministry has added features to the application that allow monitoring of the completion of the supplier’s invoices by the competent financial department of each federal entity within a specific timeframe. In case of any delay, escalation is made against the late person to ensure the supplier’s entitlement arrives on time. Upon completion of auditing and approval of invoices, the amount of the invoice are directly transferred through the TMS system to the Central Bank of the UAE, then directly to the supplier’s bank account – suppliers are then notified via an email. If the suppliers face any problem, they can directly communicate with the Technical Support specialists at MoF.