Automating both the purchase order generation and invoice processes provides several advantages over automating just one process. Benefits of fully automating include automated workflow, greater control over expenses by eliminating "Maverick" spending, and saving a large fraction of time, costs, and resources. A standardized, automated procurement workflow improves efficiency by digitizing requisitions, generating purchase orders, and performing checks at each step while allowing adjustments to ensure documentation is correct. Those who automate accounts payable and purchase order processes gain increased visibility over expenses and the ability to easily generate accurate cash flow reports.
Automating both the purchase order generation and invoice processes provides several advantages over automating just one process. Benefits of fully automating include automated workflow, greater control over expenses by eliminating "Maverick" spending, and saving a large fraction of time, costs, and resources. A standardized, automated procurement workflow improves efficiency by digitizing requisitions, generating purchase orders, and performing checks at each step while allowing adjustments to ensure documentation is correct. Those who automate accounts payable and purchase order processes gain increased visibility over expenses and the ability to easily generate accurate cash flow reports.
Automating both the purchase order generation and invoice processes provides several advantages over automating just one process. Benefits of fully automating include automated workflow, greater control over expenses by eliminating "Maverick" spending, and saving a large fraction of time, costs, and resources. A standardized, automated procurement workflow improves efficiency by digitizing requisitions, generating purchase orders, and performing checks at each step while allowing adjustments to ensure documentation is correct. Those who automate accounts payable and purchase order processes gain increased visibility over expenses and the ability to easily generate accurate cash flow reports.
In addition, late payment penalties will be easier
to avoid. Furthermore, since automatic invoice processing generates a clear audit trail, it will only take a moment for fnancial controllers to check any invoice. Give Maverick the Boot A clear and distinct workfow provides the right conditions for taking control over the procurement process. AP and purchase order automation provides excellent means to obtain well-structured purchases and deliveries. Theres also the possibility to let the system generate complete and correct purchase or- ders. It becomes easier to uncover bottlenecks and to identify expensive ineffciencies such as Maverick purchases. Those companies that choose to automate both the purchase order generation and the invoice processes will win several advantages! Benets include automated workow, greater control over expenses and elimination of Maverick spending. Choosing to automate just one of the two processes will only save a fraction of the time, costs and resources normally associated with fully automation. Standardize and Automate Workow The purchase requisition is created digitally and passed on for approval. When the requisition is authorized a complete purchase order can be auto- generated in SAP. The following steps include order acknowledgement, advance shipment notice, delivery note, goods received note and fnally the supplier invoice. At every one of these steps, auto- matic checks are carried out against the purchase order. It gives the possibility to adjust information where necessary so that the documentation is always correct. There is also the possibility to use the sales order information in the updated purchase orders to automate remittance advice generation. The whole process can be fully automatic and the only time that manual handling is required is when the numbers dont match. Correct Cash Flow Statements AP process automation results in an increased vis- ibility and greater control over expenses. By collect- ing all the information in one place makes it easy to put together timely and accurate reports to support the cash fow statements. It gets easier to maintain a cash budget and consequently to sustain business operations. Decrease Procurement Costs The pre-negotiated, discounted prices from regular suppliers are stored in the system. In that way its guaranteed that the price thats actually being paid is the price that the parties agreed on and nothing else. ReadSoft Review Author: Jonas Hedlid Maverick purchase a purchase done without guidelines and outside the existing agreements. A recently made investigation in the US shows that Maverick purchases in average are 35 % more expensive than compa- rable negotiated prices. In addition to that they lead to sub- stantially increased costs for the purchase to pay process. Web interface Theres no need for a SAP license to create a requi- sition. That can easily be done via a ReadSoft web interface and requires no in-depth knowledge of SAP. Authorized suppliers also have web access to the process status of their invoices.