Procure to Pay (P2P) 

Procure to Pay (P2P) is an end-to-end business process covering the activities involved in purchasing goods or services from external suppliers and processing payment for them. The process typically includes: 

1. Requisitioning: Initiating purchase requests internally. 

2. Vendor Selection: Sourcing and negotiating with suppliers. 

3. Purchase Order (PO) Creation: Formalizing purchase agreements. 

4. Goods or Services Receipt: Verifying and accepting deliveries. 

5. Invoice Receipt & Verification: Cross-checking invoices with purchase orders and delivery records. 

6. Payment Processing: Settling dues as per agreed payment terms. 

An efficient P2P process enhances financial control, ensures supplier relationship management, prevents procurement fraud, and enables organizations to leverage early payment discounts.