What do you know about s2p & P2P

Question

Accepted Answer

S2P stands for Source-to-Pay and P2P stands for Procure-to-Pay. They are processes used in procurement and finance management.

S2P involves the entire procurement process from sourcing suppliers to making payments.
P2P focuses specifically on the purchasing process, from requisition to payment.
Both S2P and P2P aim to streamline and optimize the procurement and payment processes.
Examples of S2P tools include SAP Ariba and Coupa.
Examples of P2P tools include Oracle Procurement Cloud and Basware.

Accepted Answer

Sourcing is a process where you identify right supplier with assurance of continuous supply of goods/service. Usually, sourcing is done by technical team (mostly engineers) who understands product in better way. Procurement starts when sourcing is done. Based on requisition procurement team list down the vendors/suppliers and further they ask for the quotations. Based on quotation, procurement team select the vendor (after evaluating the price, quality, etc.) and then raises the purchase order.

What do you know about s2p & P2P

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