O2C, P2P and R2R

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graphical user interface, text, application, chat or text message  

🔹 Order to Cash (O2C)
O2C is the process that starts from receiving a customer order and ends with collecting payment.
Key steps:
Order → Credit Check → Delivery → Invoicing → Accounts Receivable → Cash Collection
Purpose:
✔ Faster cash inflow
✔ Better customer management

🔹 Procure to Pay (P2P)
P2P is the process of purchasing goods/services from vendors and making payments.
Key steps:
Vendor Onboarding → Purchase Order → Goods Receipt → Invoice Processing → Accounts Payable → Vendor Payment
Purpose:
✔ Cost control
✔ Accurate and timely vendor payments

🔹 Record to Report (R2R)
R2R focuses on recording financial transactions and preparing financial statements.
Key steps:
Journal Entries → General Ledger → Reconciliation → Month-End Close → Financial Reporting
Purpose:
✔ Accurate books of accounts
✔ Compliance and reporting

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