For many years, the Purchase-to-Pay (P2P) cycle has been viewed as a transaction-oriented process. Most improvement initiatives focus almost exclusively on automation, enabling straight-through processing of purchase invoices, order matching and payment. But with advances in technology, especially broader integration across cloud-based ERP and procurement systems, P2P is broadening its reach across the enterprise and opening up new vistas of opportunity in support of strategic decision making. It is a view supported by FSN’s 2020 research, “The Future of Analytics in the Finance Function*,” which highlighted the strategic value that P2P could bring to corporate performance management.
Historically, Accounts Payable (AP) automation has been at the heart of P2P capability, enabling right-first-time invoice submission, reduced paper handling and error correction.
Proactis Holdings Plc (LON:PHD) develops and sells business software, and provides installation and related support services in Europe and the United States. The company offers Spend Control and eProcurement solutions that help organizations to improve operational and financial performance by enhancing the way they buy various goods and services.