Procure to pay better known as p2p is the process of procuring and managing the raw materials from your suppliers needed for manufacturing a product or providing a service for the payment made to these suppliers for the raw materials supplied. A p2p software can automate the whole process and thus help save time.
It involves flow of data from the manufacturer’s end about the raw material required, quantity of raw material required and the date by which raw material is expected to reach the manufacturer. The supplier, on receiving this data, acts on the order to be delivered to the manufacturer and on fulfilment of the order, insists for the payment of the product or service. The whole process might seem simple if your organization is dealing with a couple of raw materials but imagine a FMCG company which manufactures as many as 20-30 products on a daily basis …