Organizations create a sales order form to list the products and services being ordered by a customer. The customer may provide one or more purchase orders (PO) for that purpose.
The sales order is a document that’s created internally by the company so that it may process the order in a controlled manner with the necessary checks, authorizations and signatures in place. Generally, the sales order form includes any associated purchase orders for convenience. In some cases, the sales order may also be sent externally to the client for signature, for example, to formally accept Terms & Conditions.
Purchase order and invoice processing are basic functions every organization performs as part of its day-to-day operations. Employees in the finance department handle POs, get them signed, send them out to vendors and process related invoices on a routine basis.
These processes can often have complex business requirements:
Today, business takes place online and on mobile all around the globe, 24/7. Business process automation (BPA) has become hugely important in 2018 as many companies realize that manual processes may not cut it in a world where they must act with unprecedented speed to meet customer needs, improve and innovate continuously to compete and analyze critical information.
Over the last 20 years, manufacturers had to learn to compete at the “Walmart price”. Service providers were largely unaffected. After all, you couldn’t manufacture a cab ride or a hotel room in China. How things have changed. No matter what you do, technology and automation are creeping into every area of your business and there are dozens of startups with the brains and funding to compete. Continue reading “Amazon price! Google Speed! Five things to help you compete.”→
In a previous article we talked about how senior finance executives at companies are optimistic about the U.S. economy (56%) and about their own company’s performance (69%). But, they’re concerned about inefficiencies and willing to invest in technology to improve performance.
The fact is that even routine, day-to-day processes such as vendor invoices, purchase orders, and expense reports take an exorbitant amount of time if done manually. Employees and managers are waiting longer than necessary for reimbursement claims to go through, or to order a key piece of equipment. There’s also a much higher rate of inaccuracy in the manual process.
Check out this new infographic on the value/benefits of automating your day-to-day accounting workflows.
It’s 2016! There’s simply no excuse for outdated, manual systems that cause delays in cash-flow, infrastructure investments and responsiveness.
With affordable, cloud-based workflow products for financial process automation, there’s no need to deal with printing PDF sales orders for signatures, correcting Excel-based expense reports, or tracking down approvals in email.
Learn more by visiting our website. Explore some of the examples, read customer success stories and contact us for more details.