What is Procure-to-Pay Process?

The Procure-to-Pay (P2P) process is a comprehensive business workflow that encompasses the entire lifecycle of procurement, from the initial requisition of goods or services to the final payment to suppliers. This streamlined and systematic approach involves various stages, including requisition, sourcing, purchasing, receiving, invoicing, and payment. The goal of the Procure-to-Pay process is to enhance efficiency, control costs, and ensure compliance with organizational policies and regulatory requirements.

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