7 Ways to Reduce Errors in Accounts Payable (AP)

Let’s say you receive invoices from three different vendors. Your problem? Your purchase order system has no record of the purchases. Which means you have no idea if you should pay them. If you work in accounts payable, you probably know the pain of this situation. It’s a common time waster in accounting and purchasingContinue reading>

Purchase Order Process Steps

Purchase orders (POs) play an important role in controlling business purchases. In this post, we’ll define what a purchase order is, describe what information it includes, highlight key benefits to using POs, and explain the key steps in the purchase order process. What is a purchase order? A purchase order is the official confirmation ofContinue reading>

What is the Procurement Management Process?

A professional procurement process can be incredibly beneficial if you’re looking to streamline purchasing. It can ensure that you pay the best price for goods or services, save time by choosing the most reputable vendors, and minimize order delays and mistakes. Let it be known that there is no one-size-fits-all procurement process. Some organizations requireContinue reading>

Difference Between a Purchase Requisition & Purchase Order

Our goal with this post is to explain the basics about purchase requisitions vs. purchase orders, and share some tips on optimizing the purchase requisition process for those who specialize in finance or procurement. Before we dig into the details, it’s important to define the important role that procurement and purchasing functions play within businessesContinue reading>

What is Software as a Service (SaaS)?

The purpose of this post is to answer a question we get all the time – what is SaaS? We’ll define the meaning of SaaS and describe how it differs from on-premise solutions (also known as on-site), explain the key benefits, share some examples of leading SaaS companies for illustration, and explore some recent trends.Continue reading>

An estimated €433 billion (£379 billion) is spent outside procurement departments’ approved routes at European companies, according to research.

SupplyManagement.com is reporting on a truly worrying figure about the value of transactions that bypass the proper authorisation mechanisms… http://www.supplymanagement.com/news/2011/maverick-spend-out-of-control-at-european-firms/?locale=en Might be time to re-evaluate your own internal procedures if you have no systems to check expenditure!

New Features in Version 7.5.3

This week we’ve a number of small changes and additional features included as part of our release program:   Complex number scheme: This functionality enables you to have company specific PO number schemes for each company. With many companies in the system we’ve been told by a good few clients that auditors would prefer that […]

Major New Invoicing Feature!

One of the most popular feature requests this year has been the ability to limit invoicing to only what has been received first. For many large companies this is a huge safety net and it’s now available free of charge for all clients of Purchase Control, but beware: As always the devil is in the detail. After trialling this with a number of users we’ve found that you need to look at your own internal procedures as part of implementing this change!