{"id":9060,"date":"2024-03-22T09:23:55","date_gmt":"2024-03-22T03:53:55","guid":{"rendered":"https:\/\/razorpay.com\/learn\/?p=9060"},"modified":"2025-02-25T16:47:29","modified_gmt":"2025-02-25T11:17:29","slug":"guide-to-procure-to-pay","status":"publish","type":"post","link":"https:\/\/razorpay.com\/learn\/business-banking\/guide-to-procure-to-pay\/","title":{"rendered":"What is Procure to Pay (P2P)?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d795b5c9e53\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d795b5c9e53\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/guide-to-procure-to-pay\/#What-is-Procure-to-Pay-Process-P2P\" >What is Procure to Pay Process (P2P)?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/guide-to-procure-to-pay\/#Procure-to-Pay-Process-Steps\" >Procure to Pay Process Steps<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/guide-to-procure-to-pay\/#Why-is-Procure-to-Pay-Important\" >Why is Procure to Pay Important?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/guide-to-procure-to-pay\/#Best-Practices-in-Procure-to-Pay-Process\" >Best Practices in Procure to Pay Process<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/guide-to-procure-to-pay\/#How-Procure-to-Pay-Software-Brings-Efficiency-to-Purchasing\" >How Procure to Pay Software Brings Efficiency to Purchasing\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What-is-Procure-to-Pay-Process-P2P\"><\/span><b>What is Procure to Pay Process (P2P)?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Procure to pay is the process of acquiring required goods and services from external suppliers. A well-managed, streamlined procure to pay process brings significant cost and time savings for the business.\u00a0<\/span><\/p>\n<p>The process of procure to pay includes the following steps:<\/p>\n<ol>\n<li>Measuring requirements for goods and services<\/li>\n<li>Creating POs, compliance and approvals<\/li>\n<li>Receipt of goods\/services, reconciliation<\/li>\n<li>Invoicing and payment<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">The most efficient way to manage procurement involves software and automation. With the innovation available today, businesses can manage the entire procurement supply chain in one place instead of the disconnected approach of manual or semi-digital tools.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tools like RazorpayX Source to Pay can optimize your entire procurement process \u2013 every single step. <\/span><strong><a href=\"https:\/\/razorpay.com\/x\/source-to-pay\/?utm_source=blog&amp;utm_medium=cta&amp;utm_term=informational&amp;utm_content=procure_to_pay_blog\">Find out how.\u00a0<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Procure-to-Pay-Process-Steps\"><\/span><b>Procure to Pay Process Steps<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"alignnone wp-image-9855 size-large\" src=\"https:\/\/d6xcmfyh68wv8.cloudfront.net\/learn-content\/uploads\/2023\/09\/procure-to-pay-process-1024x354.png\" alt=\"procure to pay process\" width=\"1024\" height=\"354\" srcset=\"https:\/\/d6xcmfyh68wv8.cloudfront.net\/learn-content\/uploads\/2023\/09\/procure-to-pay-process-1024x354.png 1024w, https:\/\/d6xcmfyh68wv8.cloudfront.net\/learn-content\/uploads\/2023\/09\/procure-to-pay-process-300x104.png 300w, https:\/\/d6xcmfyh68wv8.cloudfront.net\/learn-content\/uploads\/2023\/09\/procure-to-pay-process.png 1363w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>The procure to pay process has multiple steps. All these steps should be managed from one single dashboard.\u00a0<\/span><\/p>\n<h3><b>Identifying needs and creating requisitions<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The process begins with identifying business requirements. Employees with a need for goods or services fill out a purchase request form with specifications of the required items or services.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At this step, it is also important to match requirements to the department\u2019s budget and alter specifications appropriately. This improves the chances of getting the purchase request form accepted by the department head or manager.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some businesses carry out this process manually, while others have software and automation to make the process easier and error-free. RazorpayX Source to Pay is an industry-first central tool to manage the entire procurement process, including budgeting and department-level management.\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/source-to-pay\/?utm_source=blog&amp;utm_medium=cta&amp;utm_term=informational&amp;utm_content=procure_to_pay_blog\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Get a FREE Demo for Source to Pay<\/a><\/p>\n<h3>Purchase request creation<\/h3>\n<p>After deciding the requirements, the second step is to create a formal purchase request. The requesting department raises a PR with the procurement team, after ensuring it matches the budget and administrative requirements.<\/p>\n<h3><b>Purchase request approvals<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Once the purchase request is created and budgeted, the next step is to get the necessary approvals. Managers or department heads evaluate the need, verify the budget and either approve or reject the purchase request form.\u00a0<\/span><\/p>\n<h3><b>Purchase Order creation<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">After approval of the purchase request, it is sent to the procurement department. The procurement or accounts payable (AP) team then reviews the purchase request and creates a Purchase Order (PO) to send to the vendor.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The PO should contain specifications, prices, expected delivery date, and business details like the delivery address and a POC contact number.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/razorpay.com\/x\/source-to-pay\/?utm_source=blog&amp;utm_medium=cta&amp;utm_term=informational&amp;utm_content=procure_to_pay_blog\">RazorpayX Source to Pay<\/a> comes with a <\/span><b>vendor portal <\/b><span style=\"font-weight: 400;\">allowing vendors to view Purchase Orders and other documents anytime.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the item requested is low-value or a one-time unique purchase, the AP team might choose to bypass creating a Purchase Order, and <\/span><b>spot buy<\/b><span style=\"font-weight: 400;\"> the item required.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Related Read: <a href=\"https:\/\/razorpay.com\/blog\/purchase-order-vs-invoice\/\">What is the Difference Between Purchase Orders and Invoices?\u00a0<\/a><\/span><\/p>\n<h3>PO Approval<\/h3>\n<p>The purchase order is now to be sent through an approval loop to all relevant department heads and stakeholders. The PO is approved first by the head of the requesting department, then by the procurement team, and sometimes by the finance and legal teams as well.<\/p>\n<p>Getting these approvals manually is a tedious, time-consuming process. With automated software, each stakeholder can independently view and approve the PO on their dashboards, significantly cutting down on the time taken for the entire approval process.<\/p>\n<p style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/source-to-pay\/?utm_source=blog&amp;utm_medium=cta&amp;utm_term=informational&amp;utm_content=procure_to_pay_blog\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Automate Procurements<\/a><\/p>\n<h3><b>Receipt of goods<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The vendor then delivers the goods or services with a Goods Receipt Note (GRN). The goods received should be checked against the GRN and the PO to ensure compliance with contract terms.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If any items received are damaged, faulty, or missing, the business can request a replacement or a refund. Once all the goods have been checked to the business\u2019s satisfaction, the GRN is accepted.<\/span><\/p>\n<h3><b>Matching and checks<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Once the goods have been accepted by the business, the vendor raises an invoice or a bill specifying the amount due and a due date.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Upon receipt of the vendor\u2019s invoice, a three-way match between the Goods Receipt Note (GRN), the Purchase Order (PO) and the Invoice raised by the vendor is mandatory for accurate payment and internal control purposes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The following details must be matched:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Items ordered and received<\/b><span style=\"font-weight: 400;\">: Quantity, description, and any identifying codes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Prices and totals<\/b><span style=\"font-weight: 400;\">: Unit price, total amount, and agreed-upon discounts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Delivery details<\/b><span style=\"font-weight: 400;\">: Dates, locations, and carrier information.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">RazorpayX Source to Pay is the ONLY solution on the market that offers<strong> free 3-way matching with OCR technology<\/strong>.<\/span><\/p>\n<p style=\"text-align: center;\" data-speechify-sentence=\"\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/source-to-pay\/?utm_source=blog&amp;utm_medium=cta&amp;utm_term=informational&amp;utm_content=procure_to_pay_blog\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Learn more<\/a><\/p>\n<h4><b>Vendor payment<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Finally, the invoice is sent to the finance team for payment disbursal. The finance team will process and make the payment to the vendor.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This payment <\/span><b>must <\/b><span style=\"font-weight: 400;\">be made on time and accurately to maintain a good relationship with the vendor. Happy vendors will deliver good quality supplies on time and be more open to negotiation and collaboration.\u00a0<\/span><\/p>\n<p>Automated and scheduled vendor payments ensure that no payment is missed. With good <a href=\"https:\/\/razorpay.com\/x\/source-to-pay\/?utm_source=blog&amp;utm_medium=cta&amp;utm_term=informational&amp;utm_content=procure_to_pay_blog\">procurement software<\/a>, you can schedule vendor payments of different types: partial payments, advance payments, instalment payments or holdback payments.<\/p>\n<h4><b>Recording and reconciliation<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Once the vendor receives the payment, the payment is then recorded and reconciled in the books of accounts. The finance team does this step if your procurement process is not automated.\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><strong><a href=\"https:\/\/razorpay.com\/x\/source-to-pay\/?utm_source=blog&amp;utm_medium=cta&amp;utm_term=informational&amp;utm_content=procure_to_pay_blog\">Find out how to automate your procurement process<\/a><\/strong><\/p>\n<h3><b>How Can Procure to Pay Automation Help the Procurement Process?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The procurement process involves:<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>A lot of paperwork <\/b><span style=\"font-weight: 400;\">&#8211; purchase request forms, POs, GRNs, invoices<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Multiple stakeholders<\/b><span style=\"font-weight: 400;\"> &#8211; finance teams, procurement teams, individual buying departments<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Tedious manual tasks <\/b><span style=\"font-weight: 400;\">&#8211;<\/span> <span style=\"font-weight: 400;\">getting approvals, disbursing payments, recording and reconciling transactions in books of accounts<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">These factors make manual procurement processes highly inefficient and costly. With automated solutions like RazorpayX Source to Pay, businesses can streamline the whole process \u2013 bringing huge time and cost savings.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">How can software and automation improve every step in the procurement process?<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why-is-Procure-to-Pay-Important\"><\/span>Why is Procure to Pay Important?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"markdown markdown-main-panel\" dir=\"ltr\">\n<p data-sourcepos=\"1:1-1:330\">The procure-to-pay (P2P) process might sound complex, but it&#8217;s actually the backbone of any well-run business. Imagine trying to manage all your purchases \u2013 from office supplies to raw materials \u2013 without a clear system! An effective P2P system keeps everything organized and efficient, saving you time, money, and frustration.<\/p>\n<p data-sourcepos=\"3:1-3:329\">Here&#8217;s why a good P2P process is so important: First, it helps you control your spending. By having a clear overview of what&#8217;s being ordered and how much it costs, you can identify areas to cut back or negotiate better deals with suppliers. P2P also prevents maverick spending \u2013 unauthorized purchases that can throw your budget off track.<\/p>\n<p data-sourcepos=\"5:1-5:463\">Second, P2P streamlines the entire process, from identifying a need to making the final payment. This means less time wasted on paperwork and chasing down approvals. Automated systems can handle routine tasks, freeing up your team to focus on more strategic initiatives. Finally, a smooth P2P process keeps your suppliers happy. Clear communication, timely payments, and accurate records build strong relationships that benefit your business in the long run.<\/p>\n<p><b>Related Read: <\/b><a href=\"&quot;https:\/\/razorpay.com\/blog\/po-and-non-po-invoice\/\u201d\"><b>PO and Non-PO Invoices: Meaning, Differences and Examples<\/b><\/a><\/p>\n<h2 data-sourcepos=\"5:1-5:463\"><span class=\"ez-toc-section\" id=\"Best-Practices-in-Procure-to-Pay-Process\"><\/span>Best Practices in Procure to Pay Process<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Businesses with good procure to pay processes follow certain best practices that other businesses would also benefit from:<\/p>\n<ol>\n<li>Automated procurement processes for error-free, non-labour intensive procurement<\/li>\n<li>Ensure proper policies are put in place to support transparency for all stakeholders<\/li>\n<li>Support seamless collaboration between different departments: requesting department, procurement department, finance department<\/li>\n<li>Create quantifiable OKRs with concrete success metrics to track progress. These OKRs can be: number of delayed payments in a month, amount paid as late fees to vendors, etc.<\/li>\n<\/ol>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"How-Procure-to-Pay-Software-Brings-Efficiency-to-Purchasing\"><\/span><b>How Procure to Pay Software Brings Efficiency to Purchasing\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400;\">Budgeting<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Start by assigning budgets to different cost centres.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Procurement software allows businesses to measure budgets and spending simultaneously, enabling department-wise spending analysis and accurate forecasting.<\/span><\/td>\n<\/tr>\n<tr>\n<td rowspan=\"2\"><span style=\"font-weight: 400;\">Purchase request approval<\/span><\/td>\n<td><span style=\"font-weight: 400;\">With automated procurement software, multiple stakeholders can view and approve purchase requests from one single dashboard as soon as they are raised.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Purchase requests that exceed the budget can be auto-declined to avoid overspending.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Purchase order creation<\/span><\/td>\n<td><span style=\"font-weight: 400;\">As soon as the manager approves a purchase request, procure to pay software can auto-create a Purchase Order (PO) to be sent to the vendor.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Vendor management<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Here are all the touchpoints the business has with the vendor:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sending the PO to the vendor<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Receiving the GRN from the vendor<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sending back the approved GRN to the vendor<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Receiving the invoice from the vendor<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Vendor-business touchpoints can be handled entirely digitally with a <\/span><b>vendor portal. <\/b><span style=\"font-weight: 400;\">Vendors can access these documents as soon as they are created by the business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Vendor portals also make the vendor onboarding process so much easier \u2013 the RazorpayX Source to Pay vendor portal allows for self-onboarding and KYC.\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3 way matching of GRN, PO and Invoice<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3 way matching can be entirely automated \u2013 Source to Pay is the only solution on the market that allows for automated 3-way matching with OCR reading.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The software automatically reads, matches and verifies your GRN-PO-Invoice, resulting in error-free <a href=\"https:\/\/razorpay.com\/blog\/what-is-invoice-processing\/\">invoice processing<\/a>.\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Vendor payments<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The best way to maintain a good relationship with your vendors is to pay them on time.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Procure to pay software helps businesses do this with scheduled payments, automatic GST ITC credit checks and instant bulk payouts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Accounting<\/span><\/td>\n<td><span style=\"font-weight: 400;\">With procurement software, vendor payments are automatically entered into the business\u2019 accounting tool, removing the need for manual entry and reconciliation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">RazorpayX Source to Pay also allows businesses to create smart rules, automating bookkeeping by categorizing transactions.\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/source-to-pay\/?utm_source=blog&amp;utm_medium=cta&amp;utm_term=informational&amp;utm_content=procure_to_pay_blog\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Speak with our Procurement Automation experts<\/a><\/p>\n<p><strong>Read more<\/strong><\/p>\n<p><a href=\"https:\/\/razorpay.com\/learn\/source-to-pay\/\"><span style=\"font-weight: 400;\">Source to Pay<\/span><\/a><\/p>\n<p><a href=\"https:\/\/razorpay.com\/learn\/business-banking\/what-is-procurement\/\"><span style=\"font-weight: 400;\">Procurement<\/span><\/a><\/p>\n<p><a href=\"https:\/\/razorpay.com\/learn\/accounts-payable-ap-automation\/\"><span style=\"font-weight: 400;\">AP Automation<\/span><\/a><\/p>\n<p><a href=\"https:\/\/razorpay.com\/learn\/business-banking\/purchase-orders\/\"><span style=\"font-weight: 400;\">Purchase Order<\/span><\/a><\/p>\n<p><a href=\"https:\/\/razorpay.com\/learn\/business-banking\/cost-reduction\/\"><span style=\"font-weight: 400;\">Cost Reduction<\/span><\/a><\/p>\n<p><a href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-accounts-payable\/\"><span style=\"font-weight: 400;\">Accounts Payable<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is Procure to Pay Process (P2P)? Procure to pay is the process of acquiring required goods and services from external suppliers. A well-managed, streamlined procure to pay process brings significant cost and time savings for the business.\u00a0 The process of procure to pay includes the following steps: Measuring requirements for goods and services Creating<\/p>\n","protected":false},"author":151156542,"featured_media":9074,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3437,3773],"tags":[3722,3772,3771],"class_list":{"0":"post-9060","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banking","8":"category-source-to-pay","9":"tag-procure-to-pay","10":"tag-procurement","11":"tag-source-to-pay"},"_links":{"self":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/9060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/users\/151156542"}],"replies":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/comments?post=9060"}],"version-history":[{"count":12,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/9060\/revisions"}],"predecessor-version":[{"id":16137,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/9060\/revisions\/16137"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media\/9074"}],"wp:attachment":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media?parent=9060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/categories?post=9060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/tags?post=9060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}