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What is pay to procure or procurement cycle?

Purchasing Accounting
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Question added by zohair Siddiqui , Warehouse Associate , Numerous Warehouses
Date Posted: 2015/01/01
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Jahabar Sadiq Ifthikar
by Jahabar Sadiq Ifthikar , Senior Procurement Specialist , University of Hafr Al-Batin

Procure to pay (purchase to pay or P2P) is the process of obtaining and managing the raw materials needed for manufacturing a product or providing a service. Procure to pay (purchase to pay or P2P) is the process of obtaining and managing the raw materials needed for manufacturing a product or providing a service. It involves the transactional flow of data that is sent to a supplier as well as the data that surrounds the fulfillment of the actual order and payment for the product or service. According to the Chartered Institute of Purchasing and Supply, procure to pay should be a seamless process from point of order to payment. 

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