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Purchase-to-pay

Procurement process From Wikipedia, the free encyclopedia

Purchase-to-pay
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Purchase-to-pay, often abbreviated to P2P and also called Procure-to-Pay and req to check/cheque, refers to the business 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]

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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]

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