Procure to Pay (P2P) process is a sequential process used to fulfill a requirement in a timely manner and at a reasonable price. It involves a number of stages.
The process is as follows: 1. Requirement planning
2. Request
for quotation
3. Creation and Issue of a Purchase Order(PO)
4. Receiving order along with Goods Receipt
5. Matching of receipt with order
6. Creation of Payment invoice
7. Payment to supplier
8. Supplier performance reporting