Purchasing Made Easy with Our Software
A purchasing program assists companies in the optimization of the latter half of the procurement process by recording and streamlining the steps in the purchasing cycle.
It enables users to manage the purchasing process better and links purchasing functions with accounting functions automatically.
Today’s options for a purchase requisition system are more accessible, more affordable, and broader than ever before, making the present an excellent time to update purchasing software. Companies with a good purchasing solution have the opportunity to automate their purchase order requisition process.
Benefits of Automating the Purchase Order Requisition Process
Enterprises enjoy the following benefits when they use software to automate the purchase process:
- Increases Spend Visibility – Automating the purchase order system gives the company granular visibility, which helps the business understand cost trends and better plan its budgets. The granular visibility offers better data, which organizations use when negotiating with suppliers.
- Improves Document Management – Automation allows enterprises to search for supplier transaction history in a matter of clicks. Executives don’t have to spend so much time digging through paperwork.
- Boosts Productivity – Using purchasing software decreases the time needed to process a purchase order. Automative the purchase process is an effective way to increase the efficiency of an enterprise’s business process and eliminate waste from a company’s operations.
- Reduces Error Rates – Repetitive tasks demand accuracy, and individuals may be prone to error when it comes to encoding purchase orders containing similar or identical information. The right software produces error-free purchase orders in a short time, allowing employees to focus more of their time and energy on other tasks.
- Enhances Relationship with Suppliers – An improved relationship with suppliers is a side benefit of automating the purchasing process. The automation results in better visibility to the supplier. It also leads to reduced errors in purchase orders. Suppliers don’t have to spend time rectifying these errors.
- Prevents Fraud – A purchasing program allows companies to implement automated workflows, which aids in fraud prevention. It makes sure that all purchases require proper authorization.
PREVENTING AVOIDABLE ERRORS WITH PURCHASING AUTOMATION
Organizations intent on sticking to a manual purchase order system may face human or process errors, which could cause a breakdown or delay in the purchase order system. Using a program that automates the purchasing process can help companies prevent the following:
- Lack of Authorization – An authorized individual should sign off on a purchase order. If the person forgets to do so or does not receive the physical paperwork, the accounting department may decline the purchase order.
- Incorrect Supplier Codes and Names – If an employee fills out the business code or the full name of the supplier incorrectly, this may result in breakdowns. While it may seem like an innocent mistake, it costs the company time to fix the issue.
- Illegible Handwriting – This is a common problem when filling out forms by hand. This issue won’t surface if the company has automated the purchasing process.
- Not Using the Preferred Suppliers List – Many organizations have a list of preferred suppliers. If an employee attempts to purchase goods from outside the list, the company’s finance team will object to this decision. Although there may be valid reasons for deviating from the list, it usually requires an explanation and obtaining an escalated approval.
- Seasonal Problems – Some organizations experience seasonal surges in the number of purchase orders coming through the purchase order system. This may compound the other problems and result in further delays.
Enterprises that want to transition to an automated purchasing process can get Stave Apps’ ProcurementPath. Our software allows you to automate the various stages of the process, which include purchase order submission and creation, purchase approval and request, and goods/services receipt.
WORKFLOW & TASK MANAGEMENT