Procure-to-Pay (P2P) is a critical business process encompassing the full spectrum of activities associated with the acquisition of goods and services, from the initial procurement request to the final payment made to the supplier. Additionally, the efficient running of the process also requires close collaboration with the finance team to ensure alignment on policies and objectives. Traditionally, the P2P process had a multitude of highly repetitive manual tasks and frequent handoffs involving various stakeholders. With the advent of advanced technologies such as RPA, IDP, AI/ML, many of these processes can now be automated, improving the timelines, process accuracy, KPI performance, and enabling employees to focus on more strategic procurement processes. With an intention to move toward a touchless and streamlined P2P process, enterprises are exploring various technological solutions that are being developed by procurement/finance platforms and P2P-focused best-of-breed solutions.
This report highlights the challenges and gaps faced by enterprises with existing technological solutions, while also providing insights into the selection, adoption, implementation, and utilization of the gamut of solutions available across the P2P technology landscape. We discuss the value proposition and capabilities of different categories of P2P technology providers along with the applications of different digital levers in P2P. This report also includes a comprehensive set of profiles of various P2P technology providers covering their solutions and offerings, client footprint, and partnerships.
Scope
All industries and geographies
Process scope: Procure-to-Pay (P2P)
Contents
In this report, we examine:
- Current state of P2P operations
- P2P technology provider landscape
- Enterprise approaches for P2P technology adoption
- Building a future-ready P2P technology ecosystem
- Key P2P technology providers
Membership(s)
Procurement and Supply Chain
Finance and Accounting
Service Optimization Technologies
Sourcing and Vendor Management
