It starts with a procurement professional or other employee recognizing the need to purchase goods or services from another business and ends with delivery and payment. Procure-to-pay is sometimes called end-to-end procurement because it encompasses everything involved in obtaining goods and services from B2B sellers.

The Components of the Procure-to-Pay Process In this blog post, we look at what procure-to-pay involves and how iPaaS solutions can help businesses to reduce costs and increase procurement efficiency. Some notable providers include Coupa, SAP Ariba, Jaggaer, Birchstreet, Yardi, Oracle, Tradeshift, Basware and Vroozi. There are hundreds of Procure to Pay platforms connected to TradeCentric. Second, it refers to software that facilitates procurement and especially software that helps businesses to streamline and consolidate the individual components of their procurement processes. First, it refers to the procurement process itself and everything involved in sourcing, ordering, and paying. The term “procure-to-pay” is used in a couple of contexts.

The assets acquired via procure-to-pay can range from office stationery to the raw materials the business uses to manufacture its products. Procure-to-pay is the process by which organizations obtain the goods and services they need to carry out business operations.

Source to pay coupa