PURCHASE ORDER PROCESSING FOR YOUR BUSINESS

Transcription

1 PURCHASE ORDER PROCESSING FOR YOUR BUSINESS

2 An introduction to PURCHASE ORDER PROCESSING The YourDMS Purchase Order Processing solution delivers an efficient, automated end-to-end solution that streamlines purchasing transactions. This is a really simple, and efficient way to manage the complete Purchase Order process, with control and visibility at every stage. Stewart Wright Managing Director YourDMS Internal requisitions can be generated, approved and sent to a supplier in a controlled environment. Each step of the process saves valuable time and increase accuracy and efficiency. REQUISITION ITEMS Users can requisition items from a list of pre-defined products and suppliers. It s really simple just like using a shopping cart for an online purchase. Users can create a basket of Items and when they are ready, they can select items and send them off for approval. Users can also search a catalogue of Items that have been ordered by users from within the business before - a great time saving feature. Each line can be coded in accordance with the Finance system structures but the codes can easily be found and selected by typing part of either the descriptive name or the code itself. All approval is done at the line level and users can see who owns the budget and who will be the default approver for the Item. Users can track all Items submitted for approval. If an Item is sat with an Approver who is away, the User can escalate the request to another Approver with a single click. AUTHORISATION Budget holders are automatically notified of the items that require approval, and can quickly approve a request, or items can be rejected back to the User with a reason note. The Authoriser can change the quantity of items before approval and these changes are highlighted when the User next looks at the Item. All items for approval can be grouped by User, Budget, Supplier and more. By grouping them by Budget (GL Code),

3 the budget holder can see the year to date financial commitment (the value of received items and items on orders not yet received) for the account code and make an informed decision. Both rejected items and approved items are returned to the User for correction/deletion or raising in an Order as appropriate. A full audit trail is maintained. PO RAISING & RECEIPTING Approved items are raised in an Order, which is automatically ed to the supplier, and an Order pdf is saved into the Document Management System for future reference. Users can also receipt items, which aids the 3 way matching process once the invoice arrives. INVOICE CAPTURE The YourDMS Purchase Order Processing solution includes a complete Invoice Capture module, used by the Account Payables team to capture all Invoices into the system. Invoices can be brought in from a Scanner, folder or a network folder and all are processed in the same way. The module automatically extracts the data from the Invoices (including PO references) and enables the AP clerk to add information or correct any data errors. The Invoice PDF s are then saved to the Document Management System and posted into the Purchasing software for Invoice Matching & Posting. 3 WAY MATCHING PROCESS Once captured, the invoices undergo a 3 way matching process. When an Invoice matches the receipted amount from an Order, and the Invoice is fully accounted for and authorised, it is posted to the in-house Finance application without any human intervention. Invoices can be paid promptly, often resulting in supplier discounts. All Orders and Invoices are also stored in the Document Management system with full metadata to aid searching and linking. CONTROL AND VISIBILITY With all Order, Receipting and Invoicing data at your fingertips, you have full visibility of all Purchasing activities, helping your business to gain control of its financial obligations. Exception reports can be defined to pick up on long lived Orders, Distributions of activity and spend across staff, codes, time and suppliers. Spend analysis: Understanding spend and behaviours requires having good data. By using a system for all purchases and Invoices the data will be valid and will provide good insight.

4 JOINING THE COSTS STEP 2 Request approved STEP 4 Goods/services received and checked STEP 1 Request to order goods/services submitted STEP 3 Order placed STEP 5 Invoice approved and paid The YourDMS Purchase Order Processing solution is a complete end-to-end solution that streamlines the ordering and payment process into 5 simple steps.

5 IS POP THE RIGHT CHOICE FOR YOUR BUSINESS? The benefits of a Purchase Order Processing solution include: Provides a clear up-to-date picture of your financial obligations Saves time and money Improves accuracy, efficiency and eliminates unnecessary delays Staff previously engaged in manual data entry can focus on important business tasks Integrates with your existing Finance solution for ease of use All related documents (orders, invoices, receipts etc) can be stored with full metadata to aid searching and linking Orders can be raised and approved remotely - ideal for businesses with multiple offices or mobile workers Eliminate paper - with an automated purchase order process, you no longer have to print out, post or fax purchase orders Maintain optimum stock levels - only carry the stock you need Allows you to see who your best suppliers are - you could negotiate a supplier discount Prompt payment of invoices could result in a supplier discount Duplications and errors are easier to detect Let s talk... To learn more about how a Purchase Order Processing solution from YourDMS can benefit your business, please contact us on or info@yourdms.net and transform the way you work.

6 OUR CUSTOMERS Just some of the organisations that we ve had the pleasure of working with. Industries include Retail, Manufacturing, Education, Finance, Construction, Housing Associations, Food & Drink, Engineering, Legal and Charity.

7 Let s talk Pure Offices Kembrey Park Swindon Wiltshire SN2 8YZ T: E: info@yourdms.net