Oracle R12 Training: Course on Oracle Procure to Pay Cycle

Oracle Procure to Pay (P2P) is one of the products included in the Oracle E-Business Suite. The full name of this integrated solution is the Oracle Assessment for Procure to Pay. Specialists claim that companies need to apply P2P if they have ambitions to become equal competitors in their field, provide customization, and improve customer services. 

This course is a part of the Oracle R12 training, helping you use all benefits that Oracle E-Business Suite has to offer. With Oracle Procure to Pay solutions, businesses can minimize the costs, develop working capital, and guarantee that company assets are spent optimally. 

Defining the Oracle E-Business Suite 

Oracle E-Business Suite (Enterprise Resource Planning) is a bundle of programs. These applications are mostly for financial optimization, helping business owners replace various manual processes with automatic ones. Oracle Procure to Pay is one of the crucial business processes that will become achievable after you finish the Oracle R12 training. 

In this case, Oracle Procure to Pay training consists of discussing the cycle (determining the necessary services/products, purchasing, getting and approving the invoices, paying). 

What is P2P? 

Procure to Pay or P2P for short is the process of combining purchasing and accounts payable systems to reach better results. Companies can minimize costs when they buy resources from targeted suppliers at more optimal prices. Additionally, Oracle Procure to Pay can help businesses balance the relationships between vendors, contracts, buyers, rules, and accounts payable. 

The scope of Oracle Procure to Pay 

The Oracle Procure to Pay (or Oracle Assessment for Procure to Pay) follows a specific approach: 

• Indicate the current P2P business process.
• Define the aims and inputs/outputs of the business. 
• Evaluate the compatibility of your company goals and actual business processes. Then, indicate the processes that are flawed, differ from the best industry examples, do not bring intended results, etc. 
• Identify the changes that would leave a positive impact. For instance, short-term goals might aim to improve the data quality or teamwork between different sectors or people. Long-term goals could be classified as the aim of making manual procedures automatic. 

What will you find in this course? 

In this course on Oracle Procure to Pay, I will provide overviews about financial options, purchasing model, the Procure to Pay process, requisition document types, invoices, and payment creation. 

I will pay attention to the Oracle Procure to Pay cycle, consisting of purchase requisition (demand), purchase order (order), receipts (receive), invoice (enter), and pay. This Oracle Procure to Pay training discusses each step:

• Requisitions refer to basically any needs that a company might have in terms of products or services. 
• Once the company knows its needs, it can approve the acquisition of various items. 
• After the purchase, you will also receive an invoice. 
• As soon as the invoice is confirmed, it can be paid. 

This basic description of the Oracle Procure to Pay cycle defines how the P2P process takes place in Oracle Apps.