Procure to Pay (P2P) is a business process that involves the acquisition of goods and services from external suppliers and the payment of those goods and services. It is an important part of the overall procurement process and involves several steps. The first step is to identify the goods and services that are needed. This can be done through a Request for Proposal (RFP) process or through a direct purchase. Once the goods and services have been identified, the next step is to source the goods and services from the best suppliers. This includes researching the market, evaluating potential suppliers, and negotiating terms and conditions. Once the supplier has been selected, the next step is to create a purchase order. This includes entering the details of the purchase, such as the item description, quantity, and price. The purchase order is then sent to the supplier and the supplier will confirm the order. The next step is to receive the goods and services. This includes verifying that the goods and services have been received in accordance with the purchase order. The final step is to make the payment. This includes processing the payment and ensuring that the payment is made in a timely manner.

Procure to Pay is an important part of the overall procurement process and is essential for the efficient and effective management of goods and services.