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The Benefits of Procure-to-Pay

ivalua

Paying ad hoc is inefficient; it always takes longer and allows cash – that could be earning interest – out of an account sooner than it needs to go. For organizations, this means employees can easily and quickly buy all the goods and services need from preferred contracts, ensures they stay within budget and work with required approvals.

article thumbnail

The Benefits of Procure-to-Pay

ivalua

Paying ad hoc is inefficient; it always takes longer and allows cash – that could be earning interest – out of an account sooner than it needs to go. For organizations, this means employees can easily and quickly buy all the goods and services need from preferred contracts, ensures they stay within budget and work with required approvals.

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Government Contracts Issues for a Recession

Procurement Notes

First, interest payments on the accumulating debt will accelerate, gobbling up more and more of the Federal budget. The current Congressional Budget Office (“CBO”) outlook shows, for FY2024, interest on the national debt is budgeted at $870 billion, and defense spending at $822 billion. [98] A recession likely hastens that day.