Procurement To Pay Cycle (or P2P) is the process companies use to purchase stock and materials, with the aim of fulfilling customer orders. It starts when a customer places an order and ends when the customer pays for the goods or service they have received. The cycle involves five main steps: Purchase Requisition, Purchase Order, Receiving, Approval/Invoice Matching, and Payment. At each step, processes are in place to ensure that every transaction is compliant, cost-effective and ethical – offering peace of mind and stable cash flow for businesses.