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Purchase-to-pay

From Wikipedia, the free encyclopedia
Procurement process
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Purchase-to-pay, often abbreviated to P2P and also calledProcure-to-Pay andreq to check/cheque, refers to thebusiness processes that cover activities of requesting (requisitioning), purchasing, receiving, paying for and accounting for goods and services. Most organisations have a formal process and specialist staff to control this activity so that spending is not wasteful or fraudulent.[1]

Since the dot com bubble more businesses have moved to automated systems in an effort to deliver significant savings in the face of increased procurement costs.[2][3]

References

[edit]
  1. ^W van der Aalst (2019), "Structuring Behavior or Not, That is the Question",The Art of Structuring, Springer, pp. 221–226
  2. ^"Average procurement budget runs 7% annual surplus".Proactis. January 21, 2021.
  3. ^"Proactis and FISCAL Technologies join forces to provide clarity and visibility for robust business decisions".Fiscal Technologies. January 13, 2020.


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