The procure-to-pay (P2P) process in accounts payable encompasses the steps involved in purchasing goods or services and making payments. It begins with a purchase requisition or needs analysis, then proceeds to creating a purchase order (PO), receiving the supplier’s delivery, and accepting and analyzing the invoice before initiating payment.

The accounts payable team performs a three-way match to verify that the invoices align with the purchase orders (POs) and goods receipt notes (GRNs), ensuring accuracy before any payments are made. By automating P2P with procurement software, businesses can accelerate invoice processing, reduce errors, and enhance cash flow, all while supporting broader procurement objectives.

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