The following seven steps make up the simple Procure-to-pay process in SAP: 1. The procure-to-pay process includes a few critical stages that range from need identification to invoice authorization and supplier payment. Steps to Make up a Procure-to-pay Process Typically, P2P is an automated process that affiliates procurement with accounts payable to facilitate the payment procedure, provide accuracy, and give efficiencies in cost and time. The supplier sends an invoice to the dealer, and based on this, the company pays the payment. The Procure-to-pay process indicates that a company will procure goods and services by paying the appropriate remittance to the vendor. What is Procure-to-pay?Īt its most literal level, Procure to pay (P2P) is a process of the complete cycle of actions and events when a business starts acquiring goods and services from a third party. In this article, you will see an overview of how Procure-to-pay works, the steps in P2P, and the importance of P2P. P2P is the most fundamental business operation in SAP and ERP systems, covering the overall process of obtaining goods and services from suppliers and paying for these. Procure-to-pay or P2P is a procedure of integrating purchasing and accounts payable plans to make more significant efficiencies. It improves the bottom line of the infrastructure of businesses. Efficiency is what every company prioritizes the most.
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