The official business definition of Procure to Pay (P2P) and Source to Pay (S2P) are two distinct processes that are often used in tandem to ensure efficient and effective procurement and payment operations. P2P is the process of acquiring goods and services from external suppliers and then paying for them. It involves the procurement of goods and services, the creation of purchase orders, the receipt of goods and services, and the payment of invoices. On the other hand, S2P is the process of identifying, evaluating, and selecting suppliers and negotiating contracts with them. It includes activities such as supplier selection, supplier management, and contract management. Both processes are essential for efficient and effective procurement and payment operations. While P2P focuses on the acquisition and payment of goods and services, S2P focuses on the selection and management of suppliers. Together, they provide an integrated approach to procurement and payment operations, allowing organizations to maximize their purchasing power and reduce costs.