Companies of all sizes can realize the benefits of a purchase order workflow. To reduce the red tape associated with POs, smaller businesses will need a robust spend management system to automate many of the steps.
A big cast of characters to satisfy.
Purchase orders are often preferred by vendors and auditors alike. However, many smaller companies are hesitant to put a PO process in place due to concerns about red tape. With a streamlined process, however, POs can become a beloved part of every company.
Decentralized and centralized purchasing.
PO processes need to support both centralized and decentralized purchasing workflows.
PO process and red tape.
Smaller companies often avoid implementing PO processes because they don’t have staff to dedicate to procurement and because of POs’ reputation for being unwieldy. A spend management platform can make POs realistic for all companies.
A PO process can support complex approvals that give managers visibility into spend. Automatic routing saves time and ensures that all purchases are properly approved.
A well-defined PO process ensures visibility for both centralized and decentralized purchasing processes.
Making a bitter process sweet.
A good PO automation system allows for a flexible process that can be customized to meet your company’s needs. It should create a seamless experience from pre-approval all the way to recording to the general ledger.
A better way.
With the help of a quality spend management system, companies of all sizes can experience the benefits of a PO process.