3/31/2023 0 Comments Sap p2pAmong other things, this includes the agreed international commercial terms (Incoterms), the legally required information on invoices and various compliance regulations. Numerous individuals, departments and locations are involved in this process, exchanging, verifying and checking data among themselves to ensure that every aspect is in order. Purchase-to-Pay (P2P) describes the entire procurement process from purchasing and order confirmation to incoming goods inspection, payment and invoice archiving. What Exactly Is Purchase-to-Pay All About? In this blog post, you’ll discover how Purchase-to-Pay in SAP supports you in this and which tools you need to thoroughly digitalize your procurement process. Yet there have long been solutions on the market that enable businesses to streamline their procurement process while also giving them confidence in their actions. For example, a survey of 200 companies conducted by the analyst firm Techconsult revealed that complete automation of the Purchase-to-Pay process could generate average cost savings of 42 percent. It’s no secret that many businesses leave too much potential untapped in this area. After all, procurement teams are faced with the challenge of setting up fast, powerful processes that enable the organization to operate transparently and effectively in the market. This truism is particularly applicable to procurement processes. In a day and age when customers are more demanding and online competition is growing steadily across many industries, it has become vital for companies to ensure their processes are competitive.
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