What is Purchase to Pay / Procure to Pay (P2P)?

P2P can be viewed as the backbone of an integrated Purchasing and Payables function. The key components of P2P are:

Streamlined ordering.

Efficient receipting.

Simplified payment.

Robust Management Information.

An efficient P2P system will deliver spend reduction by:

Procuring only what you need.

Only when you need it.

Only from preferred suppliers.

On the best terms.

Paying at the right time.

Delivering timely and accurate management information.

What does Harlaw do?

We will:

Analyse spend information.

Analyse existing procurement / receipting / payables processes.

Recommend channel buying strategies.

Propose business processes to support an efficient P2P system.

Use proven P2P technologies.

Programme / Project Management of the transition project / programme.

Business case

Stakeholder engagement

Planning

Supplier enablement

Training

Create business rules to frame the P2P processes

Benefits

Free up Procurement personnel to work on higher-value work.

Significant reduction in accounts payable effort.

Create visibility on spend, facilitating optimised supplier contracts with reduced spend, and allowing forecasting of spend.

Compliance to preferred vendors, resulting in lower prices

Transactions that are easier to audit.

Want to know more? Contact us