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The "Procure to Pay Process" explained.

Procure to pay systems, also known as P2P systems, enable the integration of purchasing with the accounts payable (AR) department. The process starts with the standard purchasing process but is augmented with invoice processing and automated three way matching.

Some P2P systems take over the actual payment process and some do not.

The top P2P systems do not take over the payment process since accounting systems have historically done, and still do, a great job at paying bills. The benefits of automating payment processes are confined mostly to the SOHO (Small Office Home Office) business segment whereas small, medium and large organizations cannot justify going to such radical levels to introduce P2P.

For this reason, the top P2P systems automate the purchasing, receiving, invoice pickup, invoice matching, and invoice approval processes, leaving final payment up to the accounting system already in place.

See Also

Procure To Pay Software, Purchase Order Invoice, Invoice Authorization Software, Invoice Matching

Purchasing Note

Aestiva's procure to pay system, like the best procure to pay systems, automate the complete purchasing process and, at the end, hand over the payment process to the accounting system.