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How to keep track of purchase orders?

Purchase Orders are best tracked through purchase order software.

A purchase order tracking system streamlines the entire PO cycle. It allows swift creation of POs after Purchase Requisitions have been approved. Then the Purchase Orders go through automated approval routing, and their status is tracked in real-time. Organizing Purchase Orders per their activity status becomes easier through digital means by utilizing dashboards, and more approvers can be added if the PO exceeds a certain amount.

Integration of Purchase Orders with the accounting software allows teams to track upcoming orders and discard or reassess closed POs. Approved ones are stored by the system to be later utilized in three-way matching. This makes dealing with POs faster and more accurate. Advanced procurement software platforms, like Kissflow, offer PO tracking among their features.

In contrast, manual tracking processes like updating spreadsheets by hand are ineffective in letting an organization keep track of purchase orders. They are time-consuming, error-prone, and inefficient if your organization routinely has to deal with large amounts of orders.