Purchase Orders

eProcurement’s heart and soul

As you might expect, the PO module is the heart of the whole system. Surprisingly, many companies simply don’t use purchase orders – and we believe that is a fundamental error in business practice as it allows opportunities for misunderstandings to take place between buyer and seller. Without having a correctly formatted and approved purchase order document, you are open to misuse and maverick buying where anyone in the business feels empowered to pick up the phone and place an unapproved order with a supplier – there is no central control point. Having a properly constructed PO allows you as the buyer to explicitly state what you wish to buy, what price you wish to pay and under what terms you wish to pay for it. It may also specify your policies on the acceptance of the goods/services and your policies on rejects and returns. This is crucial information that both parties to the transaction should be aware of prior to entering into the supply of those goods or services as doing so eases the payment of the eventual invoice.

Features:

  • One requisition can generate multiple orders
  • Multi-currency
  • Explicitly specify, delivery, payment and invoice instructions
  • Multiple account codes with split financial allocations
  • Multi-level signoffs and approvals based on role
  • Supports internal catalogs, free text and vendor punchout as standard
  • Allows for personalized PO formats with logos and scanned signatures
  • Fully details all terms and conditions of purchase
  • Controlled change management with audit trails

purchase order managmemt

 

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Legislation & Compliance

A Purchase order document allows for easier auditability, traceability and most importantly accountability. If you are a publicly traded company then you will be aware of Sarbanes-Oxley (SOX) compliance measures.  Furthermore, we have internal systems in place with our platform that empower buyers to trace any errors on their PO’s to the suppliers before the suppliers are aware of such errors – allowing the Approvers to only approve valid requests that they know are within budget. Such enforcement of personal accountability within your organization ensures visibility of the process from request initiation to final payment of the invoice – this is important if you wish to implement best practices within your organization. Eyvo’s eBuyerAssist cloud based purchase order software system can do exactly that – putting you in control of your spend and ensuring vendor compliance with all your transactions.

For more information please Contact Us