Outlining the Materials Management and Accounts Payable Integration

In this lesson we will introduce the procure to pay process which requires the materials management purchasing component to work in tandem with the financial accounting accounts payable process.

In most cases, when making any purchase your company has a strict procurement policy which requires the procurement department to manage or at least be made aware of all purchases, whether these are fixed assets such as machinery, materials for production such as tires, or office supplies such as toner cartridges. The purchase to pay process starts with a request to purchase something and ends ultimately with the final payment for the goods or services. This integrated process ensures an uninterrupted supply of everything the company needs to achieve your business objectives.