Purchase Order

enforces the specification of the following during PO creation and detects their deviations during PO execution:

Terms and conditions of the order
The list of which items will be purchased
The quantity of each item
The price of each item
The delivery date for each item (or for the entire PO)
The delivery location for each item (or for the entire PO)

PO approval is the flow of actions required from different stakeholders to validate a PO and bring it into effect. The process checks and balances to ensure the organizations:

Spends within a budget limitation
Complies with company spending policies

For any purchase order to be a legally binding contract, it must pass the approval process.

PO helps manage the orders and expectations surrounding a transaction. When a clear workflow is established, all parties will understand what happens at each step. This helps teams better communicate and clear up any misunderstandings along the way.

PO supports planning, organizing and managing the delivery and acceptance of goods and services. It also supports the inspection, storage, return and any movement of goods. This is a crucial aspect of any goods and services acquisition, as it affects the cost, quality and safety of the production or work.

PO allows you to take control of your inventory levels, minimize out-of-stocks, and sync warehouse stock levels with purchasing tasks. Whether you're a small business or an enterprise-level corporation, ensure efficient inventory control and smooth procurement processes.

Once an invoice is received from the supplier, will start the three-way matching process of the following to ensure the supplier has fulfilled their contractual obligation according to the details of the purchase order:

Purchase order
Order receipts and/or packing slips
Invoice

Once the series of checks are completed and the invoice is in fact payable, will generate a payment request to send to your payment system. After the payment is paid, will mark the invoice status as “already paid”.

With purchase-order-based invoice verification, all the items of a purchase order can be settled together, regardless of whether an item has been received in several partial deliveries. Each goods receipt is settled separately. Invoices can be posted directly to G/L accounts or material accounts.

PO provides you the following additional functionality.

Type & Rule Settings
– allows you to categorize your purchase according to your company’s purchasing categorization and set up the corresponding rules to ensure your company’s policies are properly enforced.
Manual or Automatic Creation
– allows you to create your purchase order manually or automatically generate it from your purchase request.
Payment Terms
– allows you to set up the payment terms in your purchase order so that subsequent invoices and payments can be automatically tracked.
e-Signing & e-Chopping
– allows you to e-Sign and/or e-Chop your purchase order.
e-Send to Supplier
– allows you to send the purchase order electronically to your supplier.
e-Confirmation from Supplier
– notifies your supplier of the new purchase order and allows it to confirm the order and then notifies you.
Delivery Planning and Confirmation
– allows you and your supplier to set up a delivery plan, make changes and confirm the (final) plan.
Rate Supplier Performance
– allows you to rate the supplier’s performance according to its ability to fulfill the order.