The procurement process has become a necessity for business efficiency. It concerns the buying and managing of raw materials that a company requires to manufacture its products or provide services. This process typically involves huge cash flows and requires visibility throughout the transaction cycle, from vendor selection to the final invoice generation and payments with adjustments.
This ebook follows the following topics:
- What Is Procure-to-Pay?
- Typical Procurement Framework
- Steps Involved in the Procure-to-Pay Cycle
- Common Procurement Cycle Challenges
- Why Automated Procure-to-Pay Matters
- Benefits of Automated Procure-to-Payment