April 12th, 2018 • purchase order
Whether you’re just starting up your own small business or you’re the head of a purchasing department in an established company, it makes sense to automate your purchase requisition process.
Today’s options for purchase requisition solutions are broader, more affordable and more accessible than ever before, making now the perfect time to bring your purchasing systems up to date. Faster processing times, cost savings and better control are just some of the benefits that you can enjoy with an automated purchase requisition solution.
A purchase requisition process is the flow of events that is triggered when a department needs to make a purchase. From the creation of the request to the delivery of the products, there are multiple tasks to be completed before the purchasing team can fulfill the request.
A system for purchase requisition makes it easy for businesses to generate PRs from virtually any location. All that is needed is an Internet-enabled device, such as a personal computer, smartphone or tablet.
A purchase requisition process usually follows the same sequence of predictable tasks across organizations.
A typical purchase requisition process involves the following steps.
The purchase requisition process described above is only a brief gist. In practice, there are multiple details that could go awry at any stage of the process leading to inefficiencies and losses.
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The simplest, most efficient way to manage the purchase requisition process is to invest in an e-procurement solution tailored to your organization’s unique needs.
E-procurement solutions benefit organizations in many ways. Some of them include
Being told that e-procurement systems can improve your purchase requisition process could seem less than credulous when it’s unclear how they work.
Simply put, e-procurement systems have modules that help manage various functions of procurement. These modules, in turn, comprise multiple workflows. Major functions of e-procurement systems include:
E-procurement software allows for easy creation of purchase requisitions and route them effortlessly through approval workflows minimizing delays and bottlenecks. Once the requisitions are approved, the software converts them to purchase orders automatically.
Companies can organize purchase orders meticulously with an e-procurement process. Multiple purchase orders can be tracked and managed in one central place. You can also factor in customized budgets, permissions, approval workflows, and policies.
e-Procurement systems can enhance vendor management by leaps and bounds. Centralized database helps captures all vendor information without replication. This becomes valuable for negotiations, managing performance, and ensuring quality.
Another function where disaster can potentially strike is invoicing. Procurement software helps match invoices with order receipts accurately. It also routes them through approval processes to financial software with minimal delays, making the invoicing process much more efficient.
For efficient procurement processes, organizations need smooth contract approval workflows and secure cloud-based storage. E-procurement software makes this possible with user-specific access and audit trails.
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If your organization needs an effective way to manage purchase requisition processes, Kissflow is a compelling option. Featuring a highly intuitive design, it allows you to customize the interface to your company’s requirements with ease.
Kissflow procurement enables you to automate workflows effortlessly, boosting productivity and efficiency. The mobile app facilitates on-the-go approvals and delays become a thing of the past. Powerful visual reporting tools provide actionable and in-depth insights into process performance. Data security can be ensured with conditional access.
Kissflow comes ready to implement so that your improved purchase requisition process can hit the ground running. Take a look at Kissflow procurement today.