![]() ![]() A study on digitization by the IT industry association Bitkom recently confirmed this impressively: In four out of ten companies, half of the business processes are paper-based. ![]() Many companies still carry out all or at least some operations along this process chain manually. Purchase-to-pay covers all the process steps involved in procurement, from the notification of requirements and the ordering process through to invoice verification and payment. You will also learn why an efficient procurement process is becoming indispensable in times of digitalization and Industry 4.0. In this blog post, we will introduce you to the most important features and benefits of an integrated purchase-to-pay process and how you can successfully implement it in your company. Purchase-to-pay covers the process steps from the purchase of goods and services to their payment. In the search for a catchy description of a procurement process that is digitally integrated from start to finish, one term keeps popping up: Purchase-to-Pay, often abbreviated as P2P and occasionally modified to Procure-to-Pay. ![]() It is desirable to model these processes digitally. That is the rough framework in which the procure-to-pay process moves. In short, it deals with the purchase of goods and services up to their final payment. Purchase-to-pay refers to the process of acquiring goods in companies, in other words the procurement process. To begin with, the terms purchase-to-pay and procure-to-pay are often used synonymously.
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