Automated purchase orders can greatly reduce the risk of fraud within the company. For instance, an employee can inflate amounts needed to pay for purchases and then pockets the difference. Because purchase orders offer an audit trail of who handled a particular purchase transaction, employees can be held accountable when inconsistencies arise. Automation, therefore, enhances a flawless audit trail and makes it possible to retrieve any information in a matter of seconds.
Trouble-free Planning and Budget Control
An appropriate purchase order process requires that before any purchase is made, the CEO of a marketing company can check and ensure there are sufficient funds to pay for it. This makes it easier to plan, budget and control cash flow. A tool like Procurementexpress.com can enhance decision-making capabilities of CEOs and helps them avoid costly mistakes.
Effective Vendor Service
With automated purchase order system, vendors receive purchase order acknowledgments and confirmations sooner. The Procurementexpress.com system also improves vendor response time by 55%. Plus purchase request automation speeds up the requisition process by giving both users and approvers instant access and expedite processes. Instant reports allow CEOS to track, monitor and analyze business costs at the click of a button.
Technological Viability and Adaptability
Automated purchase order systems allow CEOs of marketing companies to make continuous improvements to their purchasing processes in response to an ever-changing business climate. This helps them to be on par with current trends in technology as a great business driver. With the simplicity technology brings, duplications of purchase orders can be easily spotted and firms are better positioned to concentrate more on areas of business that can boost their profits.
Today’s options for automated solutions are broader, more affordable and more accessible than ever before, making now the perfect time to bring your purchasing systems up to date. Faster processing times, saving costs and easy tracking are benefits that you can have at your fingertips while you enjoy purchase order system automation.
Source: Procurement Express