Source to Settle (S2S) and Procure to Pay (P2P) are two important concepts in the business world. S2S is a process that covers the entire procurement cycle from the identification of a need for goods or services to the final payment for those goods or services. It includes activities such as supplier selection, negotiation, purchase order creation, and invoice processing. P2P, on the other hand, is a subset of S2S and covers the activities from the purchase order creation to the final payment. It includes activities such as purchase order approval, goods receipt, invoice verification, and payment.

Both S2S and P2P are essential components of any business’s procurement process. S2S helps businesses to identify the best suppliers, negotiate the best prices, and ensure that all goods and services are delivered on time and within budget. P2P helps businesses to streamline the payment process, reduce errors, and improve cash flow. By automating the S2S and P2P processes, businesses can save time and money, reduce risk, and improve their bottom line.