There’s no efficient procurement without a thought-out procure-to-pay process. P2P is a complex process that requires careful planning and continuous management. Successful companies invest in long-term P2P strategies and scout for experienced professionals in the area.
A procure to pay process ensures that all purchases are justified and authorized, received goods and services are of the required quality and quantity, and payments are made on time. P2P has a direct impact on the company’s bottom line, and getting a grip of it helps to procure efficiently and predictably.
In this guide, we’ll tell you everything you need to know about the P2P process: what it actually is, challenges worth noticing, and tips to streamline the process.