A P2P cycle is a business process where a company procures goods and services from vendors to produce the goods or deliver the service it provides to its customers. Implementing a P2P system is to reduce expenses associated with inefficient manual processes. This equates to faster order fulfillment, increased efficiency, lower staff turnover rates, decreased accounting errors, and more timely information entry into financial systems. Ultimately, this leads to better compliance with corporate policies and regulatory requirements and saves companies money that they have been overpaying for inferior paper-based procurement methods.