As businesses grow and operate at a greater scale, P2P and related accounts payable processes must transition from simple paper-based workflows into sprawling efforts that often demand automation and computer aids. This cycle describes the steps that a company must take to procure the items and pay the appropriate remittance to the supplier, less any discounts and adjustments.Īlthough simple in theory, the modern P2P cycle for enterprise-level businesses is a highly complex undertaking with many moving parts.
"Procure to pay," or P2P, is the full cycle of actions and events that a business engages in when they require goods or services from an outside supplier.
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