Procure-to-Pay (P2P) Operations

Overview: The Procure-to-Pay (P2P) Operations Specialist plays a key role in managing the end-to-end procurement process, ensuring seamless and efficient operations within the Finance and Accounting (F&A) department. This role involves overseeing procurement activities, vendor management, invoice processing, and ensuring compliance with company policies and procedures.

 

Key Responsibilities:

 

1. Procurement:

• Collaborate with various departments to understand procurement needs and requirements.Source, evaluate, and negotiate with suppliers to secure cost-effective and high-quality goods and services.
• Ensure compliance with procurement policies and guidelines.

2. Purchase Order Management:

• Generate purchase orders accurately and timely based on approved requisitions.
• Track and manage purchase orders to ensure timely delivery of goods and services.
• Address discrepancies and resolve issues with suppliers and internal stakeholders.

3. Invoice Processing:

• Receive and validate vendor invoices against purchase orders and delivery receipts.
• Process invoices in a timely manner, ensuring accuracy and completeness.
• Collaborate with internal departments to resolve any discrepancies or issues.

4. Vendor Management:

• Build and maintain strong relationships with vendors and suppliers.
• Monitor vendor performance, negotiate terms, and evaluate vendor contracts.Identify opportunities for cost savings and process improvements.

5. Compliance and Controls:

• Ensure compliance with company policies, procedures, and regulatory requirements.Implement and maintain internal controls to safeguard financial transactions.
• Conduct periodic audits to identify and rectify any non-compliance issues.

6. Reporting and Analysis:

• Generate and analyze reports related to procurement and payables.
• Provide insights into spending patterns, cost savings, and other relevant metrics.Contribute to financial planning and budgeting processes.

 

Qualifications and Skills:

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
• Proven experience in procure-to-pay operations.
• Strong understanding of procurement processes, vendor management, and financial controls.
• Excellent analytical and problem-solving skills.
• Familiarity with ERP systems and proficiency in Microsoft Excel.
• Effective communication and negotiation skills.
• Detail-oriented with a focus on accuracy and completeness.

 

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