Procure-to-pay (P2P) software manages the entire procurement process, from purchasing to vendor payments. It helps companies streamline operations and improve efficiency by consolidating tasks into a single, centralized system rather than relying on multiple separate tools. While P2P solutions are primarily used by procurement teams, accountants also use them to track invoices and payments. Suppliers can access P2P software via online portals for greater collaboration. P2P software is typically available as a suite of integrated solutions or as a standalone tool. If certain features are not included, P2P software should be able to integrate with accounts payable (AP) automation, supplier relationship management (SRM) systems, e-commerce platforms, and supply chain management software to provide a comprehensive procurement solution.
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