The Procure to Pay (P2P) process is an official business definition that encompasses the entire process of purchasing goods and services from an external supplier and paying for them. It begins with the identification of the need for a particular product or service, and then continues through the selection of a supplier, the negotiation of terms and conditions, the placement of the order, the receipt of the goods or services, the approval of the invoice, and the payment of the invoice. The process also includes the management of any returns, disputes, or discrepancies that may arise. By having a clearly defined process, businesses can ensure that they are making the most efficient and cost-effective purchasing decisions, and that they are compliant with all applicable laws and regulations. Additionally, the P2P process can help to streamline the entire purchasing process, making it easier for businesses to manage their inventory and cash flow.