Procure to Pay - P2P Services
The Procure to Pay (P2P) process is a critical part of any business, encompassing the entire workflow from purchasing goods or services to making payments. This cycle is repetitive and laborious, starting with identifying the requirement of a service or product for a business and ending with processing the payment for the product or service received. In addition to draining a company’s resources, an outdated, non-optimized P2P processes can also hamper a company’s relationships with suppliers and hurt its credibility.
A streamlined P2P process ensures that businesses can manage their procurement, supplier relationships, and financial transactions effectively, leading to cost savings, better vendor relations, and improved operational efficiency. At MQO Solutions, we offer comprehensive Procure to Pay (P2P) services designed to simplify your procurement and payment processes, helping your business save time and resources.
What is the Procure to Pay (P2P) Process ?
The Procure to Pay (P2P) cycle involves all the steps related to acquiring goods or services and making payments for them. It covers everything from identifying a need, selecting suppliers, purchasing, receiving goods or services, managing invoices, and making payments. An optimized P2P process can significantly improve cash flow, supplier relationships, and overall financial management.
The typical stages of the P2P process include:
1. Requirement Identification: Recognizing and defining the need for goods or services.
2. Supplier Selection: Researching, evaluating, and selecting suppliers based on pricing, quality, and service.
3. Purchase Order Creation: Issuing purchase orders to suppliers once terms are agreed upon.
4. Goods/Services Receipt: Receiving the goods or services and confirming their quality and quantity.
5. Invoice Matching: Comparing invoices against purchase orders and receipts for accuracy.
6. Payment Processing: Issuing payments to suppliers within the agreed payment terms.
7. Supplier Relationship Management: Maintaining healthy and transparent relationships with suppliers to ensure smooth operations.
Why Choose MQO Solutions for Your Procure to Pay Process?
✅ End-to-End Support: From supplier selection to payment processing, we provide comprehensive P2P services.
✅ Efficiency & Accuracy: We ensure your procurement and payment processes are optimized for speed and accuracy.
✅ Cost Savings: By streamlining your P2P process, we help reduce overhead costs, avoid late fees, and identify savings opportunities.
✅ Improved Supplier Relationships: Timely payments and efficient processing foster strong relationships with suppliers, ensuring reliability.
✅ Scalability: Our P2P services can scale with your business, adapting to increasing procurement volumes and complexities.
✅ Technology Integration: We leverage the latest tools and technologies to automate and streamline your P2P process.
Services
Accounts Payable Services
Invoice Processing
P2P Reporting
Purchase Order Management
Supplier Helpdesk Management
Supplier Master Management
Benefits of Partnering with us
Focus on Operations
Free Onshore teams to shift their focus to more operational and strategic functions.
Improved Efficiency
Our team members streamline P2P cycle to increase team efficiency. Our team of experts will take care.
Digitisation Support
Our team members add agility to your processes by implementing technology & automation.
Cost Saving Deal
By Partnering with us, you can achieve significant cost saving upto 50% of the onshore cost and efficiency gains by our P2P cycle specialists.
Software's we use
Certifications
