Purchase-To-Pay Definition
The purchase-to-pay process (P2P) is the cycle of activities from the time an organization identifies a need for goods or services through to the final payment for those goods or services. The P2P process includes all the steps in between, such as issuing a purchase order, receiving and approving invoices, and making payments.
The goal of P2P is to streamline and automate these activities to improve efficiency and visibility, while also reducing costs. By automating P2P, organizations can gain better control over spending, reduce errors and manual processing, and improve supplier relationships.
