20/12/2023
What is P2P channel management?
Procure-to-pay is the process of integrating purchasing and accounts payable systems to create greater efficiencies. It exists within the larger procurement management process and involves four key stages: Selecting goods and services. Enforcing compliance and order. Receiving and reconciliation.
Example :
An example of a P2P process is when an organization identifies a need for a product or service, creates a purchase requisition, obtains approvals, issues a purchase order, receives the goods or services, verifies the invoice against the purchase order and receipt, and proceeds to make the payment to the supplier.
