Purchase Order Management
Forecast Spending with a Complete Purchase to Payment Solution

 

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Purchase Order Processing Forecasts Spending

From start to finish, an employee can use a mobile phone, tablet, or laptop to quickly manage the Purchase Order process. Define workflows by department, purchase type, dollar level or any other criteria. Unlimited levels of approval, group approval, alternate approvers and FYI approvers can be set for each type of approval workflow. With advanced search and reporting, forecasting spend for month-end closing is accurate and in real-time.

Workflow Designed for Enterprise Purchase Order Processing

Flexible workflow approval configuration can scale to meet the needs of enterprise organizations with multiple entities. For example, first, a department manager can review budget and approve a requisition over a certain dollar amount or CAPEX request. Then, the buyer receives the requisition and sources multiple price quotes to select the vendor. Upon final approval of the requisition, the buyer can generate a purchase order and edit the terms and conditions or add additional documentation before releasing the purchase order to the vendor. All comments and approvals for the purchase are included in the audit trail.

Employee Purchase Order Self-Service

Employees can quickly generate a purchase requisition by using a supplier catalog or shopping online at a preferred vendor’s website via cXML Punchout. Employees with a purchasing limit can immediately release a purchase order to expedite the purchase or they can gain approval through department level workflows with one or more levels of approval based on dollar amount. Copy purchase orders for re-ordering or use re-order templates for specific departments.

Seamless Purchase Order to Invoice Match

When an employee edits the purchase order, Ariett captures an audit trail of any changes, including dollar amount. When goods or services are received, a simple two-way or three-way invoice match with document automation completes the process. Set over receiving thresholds and invoice exception flagging - for discrepancies between received purchase order line amounts and invoice amounts.

Purchase Orders and Contract Tracking Work Together

If the purchase order involves a Vendor Contract, a frequent requirement for vendor relationships today, the buyer can use Contract Tracking to define the Contract type, renewal dates and set budgets.

The buyer or contract manager can attach documentation and route the Contract for approval. Contract Tracking captures important metrics or terms for granular reporting on the status or performance of the Contract. Attach additional Contract documents, such as insurance riders, and route them with Contract details for approval. Ariett captures all comments regarding requested Contract changes. Tag requisitions and purchase orders to the Contract to track against the Contract budget. Contract tracking is integral to the requisition, purchase order and invoice automation process and provides visibility to important details across the organization for complete procurement processing.

 

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