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Procure To Pay Flow

oboloo Glossary

Procure To Pay Flow

Procure to Pay (P2P) is a business process that describes the flow of goods and services from the point of purchase to the point of payment. It is an end-to-end process that includes all activities from the identification of a need, the purchase of goods and services, the payment of invoices, and the receipt of goods and services. The process also includes the management of contracts, the tracking of supplier performance, and the management of the supply chain. The goal of P2P is to ensure that goods and services are purchased in a timely and cost-effective manner, while also ensuring that all contractual obligations are met. By streamlining the process, organizations can reduce costs, improve efficiency, and increase visibility into the entire process. P2P is an essential component of any organization’s supply chain management strategy, and it is important for organizations to have a comprehensive understanding of the process in order to maximize its effectiveness.

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