Purchase-to-pay

{{Short description|Procurement process}}

File:Small purchase procedures. Keep them simple! (IA CAT10678129).pdf

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Purchase-to-pay, often abbreviated to P2P and also called Procure-to-Pay and req to check/cheque, refers to the business processes that cover activities of requesting (requisitioning), purchasing, receiving, paying for and accounting for goods and services. Most organisations have a formal process and specialist staff to control this activity so that spending is not wasteful or fraudulent.{{citation |title=Structuring Behavior or Not, That is the Question |author=W van der Aalst |work=The Art of Structuring |year=2019 |publisher=Springer |pages=221–226}}

Since the dot com bubble more businesses have moved to automated systems in an effort to deliver significant savings in the face of increased procurement costs.{{cite news | url=https://www.proactis.com/uk/resources/news/average-procurement-budget-annual-surplus/ | title=Average procurement budget runs 7% annual surplus | work=Proactis | date=January 21, 2021}}{{cite news | url=https://fiscaltec.com/proactis-and-fiscal-technologies-join-forces-to-provide-clarity-and-visibility-for-robust-business-decisions/ | title=Proactis and FISCAL Technologies join forces to provide clarity and visibility for robust business decisions | work=Fiscal Technologies | date=January 13, 2020}}