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Use modern Procure-to-Pay (P2P) software to prioritize value creation and cost savings
P2P can provide insights in real time, reduce cycle time and improve cash flow.
It can also improve the entry rate of new employees and make it easy to implement best practices.
The P2P process works well for goods and services that are already optimally sourced, and whose vendors have master data files in the buyer’s procurement system. P2P generally has the following process flow:
But in cases where a need is recognized, but a company doesn’t have a satisfactory source for the particular goods and services required, leveraging the Source-to-Pay (S2P) process can help. See our S2P Kanban template.