What is Procure-to-pay?

Procure to pay (P2P) is the process that starts when a company makes a decision to purchase a product or service and ends when the vendor who provided it has been paid for. It is increasingly common to see business owners outsource their P2P process to BPO service providers so as to integrate technology, ensure accuracy and increase efficiencies.

The importance of P2P solutions

By incorporating advanced analytical solutions in the procurement process, enterprises can gain positive results such as:

• Automating P2P process so employees can focus on critical initiatives instead of doing repetitive work
• Going digital means reducing paperwork so companies can cut down on costs and time
• Requisitions can be requested, approved and sent to the suppliers faster, which help enhancing workflow
• Both buyers and suppliers can obtain real-time data, this visibility help improve supplier collaboration

To sum up, Procure to pay solutions have significant effects on increasing efficiency, reducing Supply Chain risks and minimizing costs. If you would like to learn more about Procurement services, consult our experts at https://jkaservices.com/