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Procurement Management

Procurement management is also referred to as the source-to-settle process. It encompasses the evaluation, selection, and creation of formal contractual agreements as well as managing the company’s ongoing supplier relationships.

Procurement is a complex discipline spanning many interrelated activities. The procurement management process includes the transactional purchasing of goods and services, and integrates with accounts payable to complete the source-to-settle cycle by providing supporting documents to help with the processing of supplier invoices for payment.

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