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Home > Determine (Selectica) > PayStream 2016 Procure-to-Pay Navigator
 

PayStream 2016 Procure-to-Pay Navigator

White Paper Published By: Determine (Selectica)
Determine (Selectica)
Published:  Aug 28, 2017
Type:  White Paper

Procure-to-Pay includes the back-office lifecycle of requisitioning, purchasing, receiving, paying for, and accounting for indirect goods and services. A successful P2P process involves full synchronization between procurement and accounting departments, enabling more transparency and strategic financial planning. Automation technology for P2P processes is relatively new in the North American market, and unlike some countries in Europe and Latin American regions, adoption is not encouraged or mandated by the US government. As a result of these and other factors, the majority of today’s North American businesses are still operating under manual P2P processes in at least some or all of their back-office departments. Figure 1 depicts the P2P adoption levels of US businesses in small, medium, and large market segments.



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