Procure to Pay Lifecycle:

it has 3 mojor parts:

Sourcing

• supplier list
• Request for quote
• Supplier selection through received quotation
• Contract negotiations and awards
• Catalog content management

Ordering

• Requisition 
• purchase order generation

• Purchase order management and fulfillment
      (i.e sending goods to requester and generating 'invoice' and 'receipts'.Invoice sent by supplier to a.p team. Receipt sent by customer to a.p team.)

• Payment
      (after receiving invoice and receipt ,matching is done and payment is released to supplier)

Reporting and Analysis

•Supplier performance

•Commodity analysis

•Internal compliance

•Process functionality