Procurement to Pay

Procurement to pay is the process which starts with the establishment of need for goods and services and ends with the payment of the amount due.

Many different scenarios exist, but good business practices can save even small organizations thousands of dollars annually.

Did you know that:

Preferred vendor relationships can save you 30% of your annual materials spend.
Modern businesses use a three step process for buying which employs and RFIQ, RFP and finally a contractual agreement.
Service levels should always be defined in a materials supply contract.

These are a few of the principles which can provide significant reductions on your expense line.