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Procure to Pay Process(P2P)#ORACLEFUSION

Oracle Fusion Procure to Pay (P2P) is a software suite that automates and optimises the procurement process from request to payment. The following steps are commonly involved in the process:

Requisition: A requisition is a request for products or services that an employee requires for their job or project. This demand is forwarded to the proper approver for review and approval.

Approval: After reviewing the demand, the approver either approves or rejects it. If the requisition is authorised, it is moved on to the next stage of the procedure.

Sourcing: If the requisition is approved, the procurement team begins the sourcing process. This involves identifying potential suppliers, obtaining quotes or proposals from those suppliers, and evaluating the proposals to select the best supplier.

Purchase order: After deciding on a supplier, the procurement team creates a purchase order (PO) and sends it to the provider. The PO contains information about the goods or services being acquired, as well as the price and delivery terms.

Receiving: When the goods or services are delivered, the receiving team verifies that the items match the PO and that they are in good condition. They then record the receipt of the items in the system.

Invoice processing: After receiving the goods or services, the supplier sends an invoice to the company. The invoice has been reviewed and approved, and payment has been processed.

This is a high-level summary of the Oracle Fusion Procure to Pay process. The process's characteristics may differ depending on the organization's individual business demands and requirements.

Hope this Helps . happy Learning.

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