Glossary
What is Procure-to-Pay (P2P)?
Last updated July 2026
Definition
Procure-to-pay (P2P) is the end-to-end process from requisition to supplier payment. Its cycle time is a core efficiency benchmark.
Also known as: P2P, purchase-to-pay
Top-performing teams reach a roughly 10-day P2P cycle versus about two weeks at the median. The tactical, tail-spend portion is where automation compresses time most.
Faster P2P captures early-payment discounts and frees buyers for strategic work.
Benchmark
Top performers ~10 days vs ~2 weeks median (APQC).
Sources: APQC (via SDCExec)
Part of RFQ & sourcing automation.
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