I2P (Invoice-To-Pay)

Invoice-to-Pay (I2P) is the process of receiving, verifying, and authorizing vendor invoices before they are paid. I2P forms the backbone of an effective procurement system because it streamlines the process of securing goods and services from vendors. It simplifies verification of invoices to ensure only accurate and valid payments are made in a timely manner, keeping up with the pace and demand of modern-day businesses. I2P eliminates manual efforts for invoice entry, reducing error rates, improving visibility, and ensuring compliance with corporate policies. Overall, I2P makes it easier for companies to manage their finances by creating an efficient and cost-effective way to pay vendors.