What is procure-to-pay ? The exact definition of procure-to-pay , often shortened to P2P , differs between organisations , but broadly the process integrates purchasing and accounts payable systems . It focuses on three vital steps in the procurement process : requisitioning goods , receiving them , and paying for them .

Why should I care about procure-to-pay If you ’ re a procurement professional , P2P Procure-to-pay brings about greater efficiencies , and by digitising the process can alleviate professionals from time-consuming administrative tasks . Many P2P platforms integrate seamlessly with existing ERP systems and automate everything from negotiations to invoicing . They also offer tools for spend management to gain strategic advantages and make better informed decisions on future negotiations .

Who are the leading P2P platform providers ? There are many different P2P solution providers , each with their own unique hook and value-add functionality . Some of the most widlely used and influential companies are SirionLabs , Icertis , DocuSign , Agiloft , and Conga .

� MODERNA The American biotech and pharmaceuticals giant joined the S & P 500 in July . Shares in the company soared 150 % in the past year , bringing its market cap near $ 100m +. Its COVID vaccine is one of the most widely approved in the world .

� VOLKSWAGEN CHINA The automaker ’ s semiconductor woes are easing . Volkswagen ' s China CEO Stephan Woellenstein expects the shortage to “ bottom out this summer ” and improve in the back half of the year .

� OCADO The UK online grocery store was forced to cancel orders after three warehouse robots collided and sparked a fire . Ocado said no staff were injured and operations would resume the same week .

� BOEING The US planemaker reduced production rates and pushed back delivery targets of its 787 Dreamliners jets after a fault was discovered towards the nose . The defect was said to cause no immediate threat to flight safety .

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