The official business definition of Procure to Pay (P2P) KPIs is a set of performance indicators that measure the efficiency and effectiveness of the P2P process. These KPIs provide an indication of how well the process is functioning and can be used to identify areas of improvement. They are typically used to measure the performance of the procurement process, from the initial purchase order to the payment of the invoice.

Common KPIs include cost savings, time to pay, invoice accuracy, supplier performance, and compliance with policies and procedures. By tracking these KPIs, organizations can identify areas of improvement and take corrective action to ensure the process is running as efficiently and effectively as possible.

Ultimately, the goal is to reduce costs, increase efficiency, and improve the overall quality of the procurement process.