Lasso Procure-to-pay (P2P) software streamlines the entire process of acquiring goods or services—from requisition to payment—offering a range of benefits for businesses across industries.

Increased Efficiency: P2P software automates repetitive tasks like purchase order creation, invoice matching, and payment approvals. This cuts down manual work, speeds up cycles, and lets staff focus on strategy rather than paperwork.

Cost Savings: By centralizing procurement and enforcing budget rules, it reduces maverick spending (off-contract purchases). It also flags discounts or better vendor terms, trimming overall expenses.

Improved Accuracy: Manual processes are prone to errors—think duplicate payments or mismatched invoices. Automation ensures data consistency across requisitions, orders, and payments, minimizing costly mistakes.

Enhanced Visibility: Real-time tracking of spending, supplier performance, and order status gives managers a clear view of the process. This helps spot bottlenecks or overspending before they escalate.

Better Compliance: P2P tools enforce internal policies (e.g., approval workflows) and external regulations (e.g., tax laws, audit trails). This reduces fraud risk and keeps everything above board.

Faster Processing: Automated invoice approvals and electronic payments shrink the time from order to settlement. Suppliers get paid quicker, which can strengthen relationships or unlock early-payment discounts.

Scalability: As a business grows, manual procurement struggles to keep up. P2P systems adapt easily, handling higher volumes or complex supply chains without extra headcount.