No one said running a business would be easy. Each day in business presents a new lesson for you and your team. Thus far, you’ve learned that raising capital is hard, $1 dollar is a lot of money, and that in principle, scaling your business needs a lot of courage.
All this wisdom has made you capable of spotting employees that can keep the company boat rowing. You’ve brought them on board because you realized that they are the valuable assets you need to grow your business. Indeed, they form a committed team determined to soldier on no matter the weather.
However, no matter how awesome they may be, they are still human and imperfect. Therefore, they still need you to provide them with the all-important tools to get the job done: state-of-the-art office equipment, efficient operating software, sound accounting software and a user-friendly purchase order (PO) software.
These things combined will help your business to survive erratic economic conditions that you and your executive team could never have anticipated. And the key to holding all of this together is to have complete control over employee spending. I am going to show you that controlling spending is not as difficult as you think. It all depends on how you do it. Take a look at the following fictitious scenario.
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One of the trusted operation assistants, Wayne, has been assigned with processing purchases for two years now. He makes sure that he follows the company’s purchasing processes to the letter. He uses a PO form to write all items that the company’s production needs. Wayne hands this document over to the operations manager for approval, but the manager is too busy to check the PO document ‘item by item’ and he trusts Wayne, so he scrawls his signature and nods his agreement.
Then, Wayne walks back to his office and uses what everyone in his organization has always believed is the most ‘sophisticated’ PO system. He and the company’s accountant are the only people currently using this system. Both know that the CEO trusts them but they decide to repay his trust by stealing the company’s money. To make matters worse, they are also in cahoots with the supplier who submits fictitious invoices for payment every now and then. How was the CEO not able to pick that up?
He couldn’t because the PO system that his company uses does not allow him to see all purchases made by employees. The system in place isn’t able to accurately show him whether he is paying for the recently received goods or the ones purchased a few months ago. He only begins to suspect something is amiss after quite some damage has been done and investigates possible purchase control measures that can help him and his executive team get on top of things.
Purchase Control Measures
The CEO decides to introduce a process that will force every employee to send PO requests to him without making it too difficult to approve and reject purchases. He asks his executive team for any possible suggestions. They all shake their heads because conventional education has made them all believe that purchasing is reserved for finance or operations folks.
The CEO ignores them and starts looking for solutions. He asks his friend who tells him about a PO software that is too easy even for technophobes. That software is Procurementexpress.com – a PO software that can control employee spending easily.
The right PO solution should deter what Wayne and the supplier did to their company. It should allow CEOs like you and their executive team to get an instant real-time viewing of all purchases made no matter where you are. This includes times when you are on a holiday.
A PO system such as Procurementexpress.com can do this fairly easily because it was designed to be as straightforward to anyone using it as breathing is. Controlling employee spending has never been this easy.
Do you agree that spend control is a necessity for your business? Then Sign up for Procurementexpress.com’s free trial today!