Procure-to-Pay, often abbreviated P2P, is an end-to-end process that requires close coordination between the upstream side (requisitioning, sourcing, ordering) and the downstream end (receiving, invoice processing, discrepancy intervention).
Procure-to-Pay systems are designed to provide organizations with control and visibility over the entire life cycle of a transaction – from the way an item is ordered to the way that the final invoice is processed – providing full insight into cash flow and financial commitments and is now deemed an important tool. The term P2P was coined in 1990. The goal of a procure-to-pay software system is to automate processes by introducing efficiency controls.
With increased globalization, the demand of above solution is growing. However the penetration of P2P is still very small but expected to increase to 50% in the next 5 years. There are many “challenges” in successful implementation of P2P Solution.
In this webinar we will walk through various steps for selection of a good system and its implementation.
Learning Objectives :
1. Understanding the terms P2P, S2P & E-Procurement.
2. Scope of P2P.
3. Building Blocks of P2P Success.
4. Resulting Benefits of P2P
5. Selection and implementation of the system.
6. Future of P2P
