Procure-to-Pay Goes Digitally Trendy

Procure-to-Pay is a system for automating procurement and supplier payments in a smooth end-to-end process. P2P offers organizations numerous benefits from reduced risks to improved supplier relationships.
By Cecil Parang

Procure-to-pay is a process that has been around a while, but it has taken on new importance as a supply chain strategy as supply chains become more global and more complex. The short definition is that it is a process organization's use to purchase the raw materials needed for manufacturing a product or providing a service. The goal is to make the purchasing process seamless, while also meeting certain goals. Ideally, the Procure-to-Pay (P2P) process optimizes cash flow, builds stronger vendor relationships, improves supply chain efficiencies, reduces risks, and maximizes purchasing power.

Taking Supply Chain Management to a Higher Automated Level
Implementing and maintaining good P2P processes involves more th...

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