Procure-to-Pay (P2P)

Procure-to-Pay (P2P) is an end-to-end process that covers all activities from identifying needs and selecting suppliers to processing payments. This integrated approach connects procurement and accounts payable operations into a seamless workflow.

A complete P2P cycle typically includes:

• Requisition and approval management
• Purchase order creation and transmission
• Goods receipt and service acknowledgment
• Invoice matching and exception handling
• Payment processing and supplier reconciliation
• Reporting and analytics

Automated P2P solutions streamline operations by enforcing compliance with purchasing policies, eliminating paper-based processes, reducing processing costs, and capturing early payment discounts through accelerated cycle times.