Procure to Pay is the process of buying goods which includes the initial decision to make the purchase, the process of selecting the goods, and the transactions made to pay for the goods purchased.
OliveTree’s procure-to-pay systems enable the integration of the purchasing department with the account payables department. They are designed to provide organizations with control and visibility over the entire life-cycle of a transaction – from the way an item is ordered to the way that the final invoice is processed – providing full insight into cash-flow and financial commitments.
As with any system that touches a significant number of users, implementing a procure-to-pay system requires significant knowledge of the as-is of the business processes as well as the to-be of it. Change management is a key component in implementing a procure-to-pay solution.