Procure-to-pay (P2P), which involves the four key stages of selecting goods and services, enforcing compliance and order, receiving and reconciliation, and invoicing and payment, is a core business process that offers exceptional opportunities for optimization and integration.
We know that procurement is often a juggling act! We use decent supplier relationships, purchasing power, and any other tools in our belt to secure best payment terms, highest quality purchases at the lowest price, or indeed best value, to ensure vital continuity of supply against a backdrop of supply chains becoming ever more complex and volatile!
Compliance is a critical purchasing success factor. Aside from the tremendous amount of financial impact, compliance has other positive outcomes. When employees comply with purchasing through designated supplier programs, it significantly streamlines the supply chain, allowing your organization to be agile and flexible.