Posted in Financial Process Automation, Workflows

Purchase Order Automation: The Definitive Guide

A purchase order is one of the necessary types of paperwork that many business owners dread. The purchase order process is often long and complex and requires large amounts of back and forth communication. Too often, information gets lost in this type of disorganized communication – and even when it doesn’t get lost, it’s difficult to keep track of everything.

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Posted in Financial Process Automation

Top 6 Procurement Risks & How to Alleviate Them for Your Business

Planning for Risk

In life or in business, risk taking has benefits and may even be an essential ingredient of success. Quite the opposite when it comes to procurement – the last thing you want is risk. A smoothly functioning procurement process is standardized and dependable.

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Posted in Financial Process Automation, Workflows

How Sales Order Form Templates Help Improve Business Efficiency

Automated sales orders increase cashflow and let salespeople focus on selling.

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.

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Posted in Financial Process Automation

How to create a purchase order process that meets real business requirements

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:

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Posted in Financial Process Automation

How to optimize purchase order processing. Hint – Stop using Excel!

Organizations of every stripe – small businesses, schools & colleges, and even some large companies – continue to email Excel sheets to approve purchase requests and issue a purchase order. While that’s better than paper, Excel still has numerous disadvantages particularly in today’s mobile-centric, data-driven world. You need a fully digital solution.

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Posted in Financial Process Automation

Purchase Orders vs Purchase Requisitions – how they are different

Purchase requisitions and purchase orders – more commonly referred to as POs – are both key documents in an efficient procurement process for any business. They enable teams to plan purchases adequately, plan budgets, and provide proof of spending in case of financial audits.

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Posted in Approval Process, Financial Process Automation, Workflows

[Infographic] Accounting & Financial Process Automation

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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 software 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.