September 25th, 2018 • Procurement Process • purchase order
Procurement is often like quicksand, sucking in employees with sticky processes and exhausting paperwork. The tedious cycle of manual purchase order processing is eerily similar to wading through a bed of silt—messy, slow, and exhausting. But is manual procurement really a danger, or just a hassle?
What happens if your purchase orders succumb to the sinking processing problems of multiple touch points, arduous document routing, time-intensive data entry, too many errors, and the ever-growing approval cycle? Unfulfilled purchase orders may lead to several operational challenges.
Unlike quicksand, which takes a lot of energy to get out of, purchase order struggles can be easily averted by just looking out for a few problematic areas and steering clear of them. Before you start trying to pull yourself out, let’s take a better look at the process itself. If your organization is really small to create a complete procurement system, start off with a simple PO system. Here’s all you need to know about the purchase order management process.
A purchase order process is the journey of a purchase order from creation through purchase order approval, invoicing, 3-way matching and order fulfilment. It also includes budget control, contract approval, quality checks, and more.
By maintaining a proper and streamlined purchase order process, organizations can:
An automated purchase order process records all the purchase orders that display order details, agreed cost, and payment terms reduce the likelihood of disputes and legal issues.
Creating and managing purchase order process on cloud, which include actual cost will help procurement officers to optimize organization’s spend culture.
Running audit reports, identifying invoices, and matching orders are relatively easy with electronic purchase order process.
Communicating purchase requirements with an electronic purchase order software help businesses manage order expectations properly and improve purchaser-supplier relationships.
Make changes to your your application with simple, drag-and-drop interface and advanced KiSSFLOW features. You can also add formulas, conditions, exceptions, and more.
Make your purchase order process paperless with your automated PO app. Once the purchase order form is designed to capture the data, move on to defining workflows, setting role-based access, and approval tasks.
View the status of every purchase order, and eliminate bottlenecks. Make real-time modifications to create a hassle-free purchasing process.
Make your purchase order process more accurate and fast using analytics, reports, and other readily available visual tools.
A simple purchase order management software eliminates paperwork, reduces manual intervention, decreases human errors, ensures transparency in the process, lowers operational costs, and bridges process gaps.
In a recent Global CPO Survey, automation was deemed as the second highest priority of CPO’s around the world. They believe that an electronic purchase order process improves accuracy, speeds up execution, and enhances process efficiency.
Given below are some of the most important features a purchase order software must have:
Deploy automated workflows and tasks to create a quick purchase order process
Modify the data fields in the purchase order form to capture essential information
Store, access, and approve POs seamlessly with centralized storage
Maintain purchasing information securely with user-specific, conditional access controls
Seek timely actions from the stakeholders by sending automated reminders
Perform three-way matching of purchase orders with related invoices and requisitions easily.
Spot process bottlenecks and delays using actionable insights obtained from visual-rich reports
An automated purchase order management system offers procurement officers the necessary tools and resources they need to streamline their purchase order process. Additionally, purchase order automation reduce the processing time and costs.
Cloud-based purchase order solutions like KiSSFLOW can be used by SMBs and enterprises. Organizations can customize the process flow and order forms as per their business needs. KiSSFLOW allows the purchasing manager to create a dynamic purchase order process using workflow automation.
Customizable electronic purchase order software offered by KiSSFLOW is a user-friendly, cost-effective alternative to paper forms.
Automating the purchase order process with KiSSFLOW’s purchase order automation software helps organizations manage costs and inventory, reduce order duplicates, maintain policy/legal compliance, simplify processing, and protect stakeholders (buyers and vendors).
Looking for ways to optimize your organization’s expenses? Take a look at KiSSFLOW a try and see how it can improve your purchase order process.
* - Based on usage requirements