Procure to Pay (P2P) Transformation

Procure to pay (P2P) is the end-to-end process that covers all the steps from initiation of the requirements by a user to the payment to the supplier. Of course, the process on-paper looks easy but each step in the process could be problematic and painstaking for your end-users – for example, a manual requisition process or a long approval chain or a delayed supplier payment.

Typically, P2P inefficiencies in most companies start with Procurement and Accounts Payable working in silos. Due to segregation of duty, both departments tend to look at their own individual initiatives for process improvement, whereas one cannot be optimized without the other.

Apart from the source of efficiency, P2P process improvement can release hidden cash through cost & budget control, early payment discounts, increased cashflow visibility, and fraud prevention etc.

We help conduct a detailed audit of the end-to-end process, both objective and subjective assessment, to uncover gaps and inefficiencies. Based on the audit outcome subsequent process improvement actions are determined and executed per the need and prioritization.

Redesigning approval workflows, common ownership of the process and automating wherever possible are some of the common fixes that will improve both the productivity as well as provide cost efficiency.