A Purchase Order System allows the streamlining of ordering of goods, receiving and invoicing with your Vendor. Tracking this information allows for management reporting that increases management visibility and allows for effective decisions. With an online system that can be hosted on the Cloud or on your internal servers there is no software to install on PC's and the system can be accessed from anywhere in the world.
What is a Purchase Order System?
A Purchase Order System allows for the electronic processing of Purchase Orders, the matching of those Purchase Orders to the goods received as well as the invoices that need to be paid for the goods. This is referred to as a “3 Way Match”. A Vendor list along with Item catalogs and pulldown menus allow a user in the Purchase Order System to quickly fill out line-item entries on Purchase Orders with single clicks reducing their time spent and eliminating input errors.
In many companies there is also the need for management approval within the Purchase Order System based on the information found on a Purchase Order. This workflow metric could be the dollar amount of the Purchase Order, the General Ledger or Account codes being used for the purchase, the user submitting the Purchase Order or even a combination of these different workflows values. This process is usually specific to a given company and we work with you to make sure the system delivered is tailored to best practices in your industry.
One of the most important aspects of having an electronic Purchase Order System is the ability to quickly and efficiently run real time reports. These are configured to your visibility needs. One example would be allowing management to quickly view spend in a given time period and even be able to sort and search by various Departments, General Ledger Codes and Projects. Another example would be for Accounts Payable to quickly run a report and see all the Purchase Orders in the system where the invoices had been received but receipt of the goods were still pending.
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Let us help reduce your business costs while increasing visibility and resource efficiency. Contact us for a free discussion and over the web software demonstration. Also check out our page at Purchase Order System.com