Purchase To Pay System Definition

A purchase to pay system (P2P system) is a business process that encompasses the complete lifecycle of a company’s purchase orders and invoices, from creation and approval to payment.

P2P systems are designed to streamline and automate these processes, saving time and money for businesses. In addition, P2P systems can provide visibility into spending, help businesses manage supplier relationships, and reduce the risk of fraud.

There are a variety of P2P systems on the market, each with different features and functionality. When choosing a P2P system for your business, it is important to consider your specific needs and requirements.