Browse Tag: PO software

What is the Best Procurement Software?

Best procurement software, what is the best procurement software
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Procurement software tends to fall into one of three categories.

There are enterprise resource planning (ERP) systems, which are complex systems designed to help companies manage all ends of the supply chain. Then there is accounting software that people use to keep track of POs, sacrificing a comprehensive procurement suite for all-in-one convenience. And finally, there’s purchase order-specific software.

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What’s The Difference Between a Purchase Order And a Sales Order?

purchase vs sales order

Some people still confuse purchase orders with sales orders. I am not certain if what confuses them are the words “purchase and sales” or the “order” at the end. While there is an overlap between purchase and sales orders, they differ greatly.

Misunderstanding these financial terms is not an option. So, I think drawing some parallels between the two would help.
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The Ugly Truth About Not Using PO Software

 

5The-ugly-truth-about-not-using-PO-software

Your outdated system is stunting your growth. You might not realize it or might avoid the ugly truth, that your paper-based purchase order system is keeping your business back from a healthy bottom line!

Let’s look at the process of a paper-based system

  • The buyer realizes the need for a product after checking or being notified by the inventory system or a specific department
  • The purchase order is written out or printed and given to the approver to get the golden signature
  • The purchase order is mailed to the supplier, after which the supplier manually enters it into their system
  • The supplier prints out an invoice and sends it back to the buyer by e-mail
  • The buyer pays the invoice and notifies the supplier by Proof Of Payment
  • The buyer enters the invoice manually into their system
  • The supplier finally sends the shipment to the buyer

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The Increasing Importance of Using an Efficient Purchase Order Software

The increasing importance of the purchasing functionThe purchasing function is more than just the act of purchasing goods. When performed well, nonprofits could save money and time. Good news is that with technology this crucial function has become easy. When nonprofits invest in an efficient system this is what they can benefit:

  • Improved policy compliance
  • Get reports in real-time
  • Helps charity beneficiaries access help immediately
  • Reduced costs
  • Allows leaders to approve PO requests anytime

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