What is procure To pay?

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Accepted Answer

Procure to pay is the process of obtaining goods or services from a vendor, including requisition, purchase order, receipt, invoice, and payment.

Procure to pay involves the entire process of purchasing goods or services from a vendor.
It typically includes steps such as requisitioning, creating a purchase order, receiving the goods or services, processing the vendor's invoice, and making payment.
The process ensures that goods or services are obtained at the right time, in the right quantity, and at the right price.
Automation of procure to pay processes can help streamline operations and improve efficiency.
Example: A company needs to purchase office supplies. The process starts with a requisition for the supplies, followed by creating a purchase order, receiving the supplies, processing the vendor's invoice, and making payment.

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