How would PO software help me to control expenditure?
Purchasing software is used to automate the processes involved in the procurement of goods and services. It ensures that all members of staff, who have purchasing power throughout an organisation, follow the same rules and use standardised procedures.
The software will allow you to raise a purchase order electronically using a pre-defined template. Suppliers can be selected from a drop down list and multiple currencies are usually available for any international purchasing.
When the template has been completed the electronic purchase order is automatically routed to an approver who will either authorise or reject the PO. When the order has been approved it is sent by email directly to the relevant supplier.
One of the major advantages of using purchasing software is that the Finance Department can see at any time, the amount of expenditure which is outstanding, simply by logging on to the system and running a report. In addition, budgets can be set for each cost centre or department so that the cost of new purchases is automatically deducted giving much tighter budgetary control.
Savings can also be made on printing, postage and stationery and as all purchase orders are stored electronically, there is no resource required for filing or retrieving them.
For further information on how to implement and use purchasing software please click here or call Cloud B2B solutions on 08081 45 46 47.
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