{"id":46136,"date":"2022-03-09T14:46:40","date_gmt":"2022-03-09T14:46:40","guid":{"rendered":"https:\/\/softco.com\/glossary\/p2p-analytics\/"},"modified":"2023-06-07T15:58:36","modified_gmt":"2023-06-07T14:58:36","slug":"p2p-analytics","status":"publish","type":"glossary","link":"https:\/\/softco.com\/uk\/glossary\/p2p-analytics\/","title":{"rendered":"P2P Analytics"},"content":{"rendered":"\n<div class=\"wp-block-cover\"><span aria-hidden=\"true\" class=\"wp-block-cover__background has-background-dim-10 has-background-dim\"><\/span><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"960\" class=\"wp-block-cover__image-background wp-image-30043\" alt=\"\" src=\"https:\/\/softco.com\/wp-content\/uploads\/2022\/02\/Glossary-Term.jpg\" style=\"object-position:18% 49%\" data-object-fit=\"cover\" data-object-position=\"18% 49%\" srcset=\"https:\/\/softco.com\/wp-content\/uploads\/2022\/02\/Glossary-Term.jpg 1920w, https:\/\/softco.com\/wp-content\/uploads\/2022\/02\/Glossary-Term-300x150.jpg 300w, https:\/\/softco.com\/wp-content\/uploads\/2022\/02\/Glossary-Term-1024x512.jpg 1024w, https:\/\/softco.com\/wp-content\/uploads\/2022\/02\/Glossary-Term-768x384.jpg 768w, https:\/\/softco.com\/wp-content\/uploads\/2022\/02\/Glossary-Term-1536x768.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><div class=\"wp-block-cover__inner-container is-layout-flow wp-block-cover-is-layout-flow\">\n<h1 class=\"wp-block-heading has-text-align-center\" id=\"h-path-to-purchase-p2p-analytics\">Path to Purchase (P2P) Analytics<\/h1>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-group has-white-background-color has-background\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<p>Procure to pay (P2P) is a complex process that often spans multiple departments. Procure to pay is a process that integrates both purchase accounts and accounts payable systems for greater operational efficiency. It encompasses several key operations in the procurement process, including purchase requisitions, purchasing and PO generation, and processing supplier invoices.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What Are P2P Analytics?<\/h2>\n\n\n\n<p class=\"has-text-color\" style=\"color:#1976d2\"><strong>Procure to pay analytics simply refers to the analytical data that\u2019s collected throughout the procure to pay process. Steps must be taken sequentially throughout the P2P process, starting from identifying the need for supplies, to invoice approvals, and eventually payments to vendors.\u00a0<\/strong><\/p>\n\n\n\n<p>P2P analytics are used by businesses to identify inefficiencies, risk, trends, and other insights. These help businesses streamline or reinvent existing business processes and improve decision making.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why are P2P Analytics Important?<\/h2>\n\n\n\n<p>P2P analytics help businesses generate more accurate reports and get granular insights into how their procurement processes are working. P2P analytics can be derived with the help of an analytics tool. <a href=\"https:\/\/softco.com\/uk\/solutions\/procure-to-pay\/\">Procurement automation tools<\/a> offer real-time reporting and analytical data to decision makers.<\/p>\n\n\n\n<p>P2P analytics can be analyzed at different levels, including categories, supplier, or product level. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-some-of-the-most-common-p2p-analytics-include\"><strong>Some of the most common P2P analytics include:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Process KPIs<\/li>\n\n\n\n<li>Supplier metrics<\/li>\n\n\n\n<li>Risk profiling<\/li>\n\n\n\n<li>Supplier data<\/li>\n\n\n\n<li>Relevant purchase data<\/li>\n\n\n\n<li>Spend analytics<\/li>\n\n\n\n<li>Cash flow forecasts<\/li>\n\n\n\n<li>Accruals status&nbsp;<\/li>\n\n\n\n<li>Productivity reports<\/li>\n\n\n\n<li>Discrepancies in accounts payable<\/li>\n\n\n\n<li>Average invoice value&nbsp;<\/li>\n\n\n\n<li>Average invoice approval time<\/li>\n\n\n\n<li>POs delivered, unacknowledged POs<\/li>\n\n\n\n<li>Invoice transit time<\/li>\n\n\n\n<li>Payable liabilities in transit<\/li>\n\n\n\n<li>Three-way matching<\/li>\n\n\n\n<li>Supplier exceptions<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p>P2P analytics provide insights into the business\u2019 procurement processes, including any bottlenecks or slow-downs that may create a negative impact on the business\u2019 overall performance.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Use Procure-to-Pay Software to Gain Better Insights into P2P Analytics<\/h2>\n\n\n\n<p><a href=\"https:\/\/softco.com\/uk\/solutions\/procure-to-pay\/\">Procure-to-pay software<\/a> can give you better insights into your company\u2019s P2P analytics. It helps improve vendor relationships by offering full transparency over the status of their invoices. <\/p>\n\n\n\n<p>It offers complete visibility over the entire P2P process, presenting information in real-time, including graphical reports detailing accruals, total spend, contracts, and vendor management.&nbsp;<\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Procure to pay (P2P) is a complex process that often spans multiple departments. Procure to pay&#8230;<\/p>\n","protected":false},"featured_media":0,"template":"","alphabetletter":[8740],"class_list":["post-46136","glossary","type-glossary","status-publish","hentry","alphabetletter-p"],"acf":[],"_links":{"self":[{"href":"https:\/\/softco.com\/uk\/wp-json\/wp\/v2\/glossary\/46136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/softco.com\/uk\/wp-json\/wp\/v2\/glossary"}],"about":[{"href":"https:\/\/softco.com\/uk\/wp-json\/wp\/v2\/types\/glossary"}],"wp:attachment":[{"href":"https:\/\/softco.com\/uk\/wp-json\/wp\/v2\/media?parent=46136"}],"wp:term":[{"taxonomy":"alphabetletter","embeddable":true,"href":"https:\/\/softco.com\/uk\/wp-json\/wp\/v2\/alphabetletter?post=46136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}