Unauthorized purchasing and overspending can cost your company serious losses each year. Effective project management and supply chain management plans need mechanisms to be in place to prevent maverick spending.

Imposing rules like spend limits, requisition requirements, approval processes and a full audit trail without mechanisms for enforcing those regulations is a bit like having a blind guard dog. With Purchase Control the purchase to pay process is totally visible, traceable, and subject to enforced procurement policy compliance.

Approved vendors.

Within the database, the system administrator sets up all vendors and delivery locations in the system. Your purchasers will only do business with trusted suppliers with whom you have a standing relationship. So, when an online purchase order is generated in the procurement software, you are entering a purchase agreement with only approved sources.

Electronic requisitions.

Requisitions are generated by the system automatically when a purchasing agent attempts to close an open purchase order. Before the purchaser can send the PO to the vendor, a request for approval is sent as an email to a administrative user to authorize the transaction.

Automated spend limits.

All users are subject to a spend limit that our Cloud procurement software system enforces automatically. When a user opens a purchase order and the contents of that order exceed the set purchaser spend limit, the system bars the order from being placed.

Full audit trail.

From the moment a PO is opened, the built-in audit trail begins tracking all activity by all users with respect to that purchase order. The information recorded in the audit includes the date, time and user for the generation of the purchase order, requisition and approval, any editing done to the order after approval, and three way matching reconciliation.

All these automated yet secure features of Purchase Control’s e-procurement solution make it an air tight system for managing and regulating the entire purchasing process.

Unauthorized purchases