Purchase Order System
Our Purchase Order system delivers the principle benefit of approving costs before the expenditure is committed by placing the approval at the start of the procurement process, and not at the end when the invoice is received.
It helps with accruals & commitment accounting, rather than leaving the accountant to depend upon the incomplete picture of just invoices received.
But it delivers these benefits, and lots more, in an advanced manner, making the process incredibly efficient, all in a controlled manner.
Great for business of all sizes, handling goods and services, and at a cost that will be affordable to any company.
“As an accountant I appreciate the need for Purchase Orders, but most companies don't use them, or use them badly. Used efficiently they benefit a company in many ways that far outweigh the costs of the system”
John Bavister, FCA
John Bavister, FCA
Here are some of the benefits of using our Purchase Order System
Efficiency savings
Integral to our system is that all actions are handled electronically, ensuring minimal delays between procurer, authorising manager and supplier whilst also ending the movement of paper.
Expenditure controlled
Our system lets you set Purchase Order value limits for each authoriser, plus you can have single or multi-approval rule sets, all controlled by an authorisation matrix.
Budgetary control
Allows budget holders to apply costs to the correct department/expense code at the requisition stage, rather than letting accounts staff do it upon receipt of invoice.
Procurement control
Use the system to enforce company policies. Only allow orders to raised against approved suppliers. Dictate PO Terms.
Accrual and commitment accounting
Easy to see unfulfilled orders, or orders fulfilled but not yet invoiced.
Managerial control
At a click of a button see who is ordering, what spend and what products.
Visual
The Purchase Order can be viewed ‘as is’ allowing staff to see exactly what the supplier will receive.
Easy and permanent retrieval
All Purchase Requisitions and Purchase Orders are stored in a document repository readily available from our system.
Accounting process controls
Unique Purchase Requistion numbers are automatically generated and, upon approval, a unique Purchase Order number is automatically generated.
Short Contract
Short contract period available, however, once you start to use the inCLOUD Purchase Order system you won’t want to stop!
Size
The inCLOUD Purchase Order system suits businesses of all sizes.
No IT department needed
No software to install. All you need is a web browser on an internet-connected device.
VAT
Auto calculated (can be overridden).