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Procure to Pay

The Procure-to-Pay (P2P) process can be challenging due to its multifaceted nature, encompassing several distinct processes across various organizational units, and involving the participation of multiple stakeholders. These factors contribute to a complex and occasionally confusing process, particularly when performed manually and involves paper-based transactions.

Partner with IBN Tech for all Your AP Needs

Key Activities

  • Purchase Planning
  • Vendor Management & Buying
  • Receiving
  • Invoicing
  • Vendor advance & reconciliation

Procure-to-Pay Outsourcing Services

  • Managing suppliers
  • Managing purchase orders
  • Receiving invoices
  • Processing invoices
  • Managing pricing conditions
  • Implementing approval strategies
  • Processing employee claims
  • Reconciliation
  • Monitoring open PR’s & PO’s
  • Monitoring compliance with standard payment terms
  • Maintaining a complete audit trail
  • Manual processing of payment transactions
  • Dual control of master records
  • Full audit trail

Risks and challenges that are associated with the procure-to-pay (P2P) process

  • Inaccurate Purchase Orders
  • Fraudulent Activities
  • Compliance Issues
  • Inefficient Processes
  • Inadequate Oversight

The way we deliver value

We take pride in providing our clients with Procure-to-pay services that deliver tangible business value. Through our expertise, we help our clients achieve cost reduction in their operations, establish world-class cost structures, and implement robust controls. Our standardized accounts payable (AP) processes are highly streamlined and enhance efficiency.

Additionally,
We offer Account Payable services to end customers in the US using third-party accounting software. The following benefits and features are available-

Innovative Ways to Streamline the Procure-to-Pay Process
TAKE A LOOK AT OUR P2P GUIDES

Streamline your procurement-to-payment process effortlessly!

Contact our solutions experts and take the first step toward a brighter future!