Process to pay is the process coordinated and integrated action plan to fill fill all requirement goods and services. We know that also name of P2P process involves a number of sequential stage that is identify needs, Create Requestion, Requestion approval, Create PO, Purchase Order Approval, Goods Received, Supplier Performance, Invoice Approval and Vendor Payment
The needs for the product or service is a identified. Once a valid needs is identify document in a stick out the high level specific for goods products and term of reference.
Create Purchase Request
When you identify the product and services you can create the purchase request. Requestion can be created for any type of procurement from a standard purchase to subcontractor and consignment
Purchase Requestion Approval
after create the purchase requesting you can submit the purchase requestion approval for for high senior level to approve the purchased equation
Create the Purchase Order
After approving the purchase recursion you can send the purchase department for creating purchase order against your identify needs and services
Purchase Order Approval
The purchase department create the purchase order then sent to the high level for the approval purchase order after approve the purchase order you can send to supply vendor panel
The suppliers deliver the requested good or services and relevant goods of services received is created,
The supply performance is evaluated a number of factor like as quality one time delivery service contract compliance responsiveness and total cost of Ownership (TCO).
The supply invest is submitted and inter into the processing system when receive the materials. The invoice is approved and forwarded to the finance team payment.
Upon receiving an approved invoice the finance team will process the payment according to the contact term any contacts change and reviews of liquid financial security will be taken into accounts.