Request to Payment – Mastering the Purchase

by Mr. K.S. Venkitasubramanian, Chief Financial Officer, Ramananda Adigalar Foundation (RAF) & Chief Operating Officer, Sakthi Finance Limited, Coimbatore on February 24, 2025.

On February 24, 2025, KCT Business School hosted an industry led session on “Request to Payment – Mastering the Purchase Process” for 55, II MBA marketing students ( Batch 2023-25), facilitated by Sri. K.S. Venkitasubramanian, Chief Financial Officer, Ramananda Adigalar Foundation (RAF) & Chief Operating Officer, Sakthi Finance Limited, Coimbatore. The session was organized as part of the ongoing B2B Marketing course. The resource person started the deliberation explaining Procure to Pay (P2P) Process and touched on Enhancing Catalog Maintenance, Supplier Approval Process, Importance of Procurement in Large Industries, Procurement in Service Organizations, Value Addition in Sourcing Discussions, Key Stages in the Procurement Process.  The stages in the procurement process were deliberated with appropriate examples from manufacturing and service sectors. Additionally, students learnt about different types of purchase orders, forward contracts, and penalty clauses, which equips students with the knowledge to structure long-term agreements while mitigating risks. The session also emphasized financial considerations such as Input Tax Credit (ITC) and GST, which impact purchasing decisions and pricing strategies. Exposure to concepts like bill of materials (BOM), bill of quantity (BOQ), and digital purchase orders helped the students understand cost calculations and sales automation, which are crucial in modern B2B transactions. The session was coordinated by student coordinators, Ms. Akshaya M, Ms.Madhumidha R, II MBA under the guidance of Dr. B. Poongodi, Professor, KCT Business School.