Can you please explain P2P process?

Stephen raj 20 Reputation points
2024-05-14T17:18:30.2166667+00:00

Need clear explanation regarding P2P process

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  1. Kiran P 630 Reputation points Microsoft Vendor
    2024-05-15T03:49:31.5866667+00:00

    Hi Stephen raj,

    Thanks for reaching out to us on Microsoft Q&A forum.

    P2P Procure to Pay: The procurement process commences with the initiation of a Purchase Requisition (PR), an internal document generated by an employee to facilitate the acquisition of necessary products or services within the organization. Upon approval of the PR, it proceeds for further processing.

    Subsequently, if pricing information is available, a Purchase Order (PO) is formulated. Conversely, in the absence of pricing details, a Request for Quotation (RFQ) is issued, dispatched to relevant vendors for quotation submissions. Upon receipt of responses, vendor quotations are meticulously assessed, and if mutual agreement on pricing is achieved, the PO is formalized.

    Upon completion of the PO, the process advances to the receipt of the procured products. This entails the meticulous recording and acknowledgment of the reception of the ordered items.

    Following the receipt of the purchase order, the procurement lines undergo processing to facilitate invoicing procedures. Prior to the posting of invoices, a critical step ensues: the invoice matching process. This step is imperative to ensure the alignment and accuracy among vendor invoices, purchase orders, and product receipt information.

    If you encounter any future issues, please feel free to contact us, and we will be pleased to assist you further.

    If you have found the answer provided to be helpful, please click on the "Accept answer/Upvote" button so that it is useful for other members in the Microsoft Q&A community.

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  1. Olaf Helper 41,411 Reputation points
    2024-05-14T17:49:11.3933333+00:00

    With P2P you mean this here? https://en.wikipedia.org/wiki/Procure-to-pay

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