Key Metrics to Track During Your P2P Assessment

 

The Procure-to-Pay (P2P) process forms the backbone of a company’s financial operations. From vendor selection to payment processing, every step needs to be accurate and timely. That’s where a P2P Assessment plays a transformative role.

A P2P assessment is essentially a health check of your procurement and payables function. It identifies inefficiencies, duplicate efforts, non-compliance, and bottlenecks that could be draining your time and resources.

The process typically starts with mapping out the current state of P2P, followed by a detailed evaluation of people, processes, and platforms involved. Key focus areas include purchase requisitions, order matching, invoice approvals, and payment scheduling.

With the help of experts like Rightpath GS, companies can benchmark their performance against industry best practices. This enables the creation of a tailored roadmap for improvement, addressing both quick wins and long-term changes.

The insights from a P2P assessment are invaluable. They help in reducing procurement costs, avoiding late payment penalties, and improving vendor relationships. Moreover, they support compliance by ensuring audit-ready documentation and system controls.

In short, a P2P assessment is your first step toward digital maturity and operational excellence in finance.

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