Set-Up the purchase Requisitioning Procedure

With the advancement of technology, solutions that used to be reserved for large corporations, are now available for small to mid sized businesses.

PA, PA (prHWY.com) November 10, 2012 - PA, Nov 10, 2012 - With the advancement of technology, solutions that used to be reserved for large corporations, are now available for small to mid sized businesses. Automation of the "Requisitions To Payables" function in a business serves as a great example. The internet, along with the popularity of Cloud-Based computing, has led to the creation of solutions that are not cost inhibited to small businesses. There is no need for expensive hardware and software, only an internet connection.


Purchase Requisitions - Do you know exactly what and how much is being spent on Indirect and Direct purchases? Visibility into your spend is one of the greatest rewards of automating your Requisition to Payables. Visibility can give a company the means to monitor fraud, explain budget overages, establish spending patterns and negotiate spend. The benefits of supplier visibility can control the cost of your operations by reducing processing costs associated with:

* Unnecessary Inventory
* Fraud
* Lack of contract compliance
* Reducing off-contract spending
* Requisition to order cycles
* Transactional record keeping

Do you know how much of your Indirect and Direct spend is being bought on contract? Requisition to Payables automation can bring maverick spend under control. "Maverick" spend is the process whereby the purchaser buys items or services that are outside of the preferred process, suppliers or systems. Instead of buying from a preferred supplier and capitalizing on discounted pricing, an individual purchases the items or services from another source at a higher price. By focusing on contract compliance and reducing the processes caused by maverick spend, companies can save money with automation.

Purchase Requisition Do you know how much spend is outside of management control? Automation brings control to your procure-to-pay process and the rewards are unmistakeable by providing the financial controls that are necessary. Automation of control improves productivity and takes the guesswork out of the controls that are necessary for buying. Benefits of control are:

* Enforcing Business Policies
* Maintaining Budgets
* Contract Compliance
* Proper Approvals
* Increased Visibility
* Proper Coding
* Avoiding Fraud
* Vendor Consolidation

Automating the Requisition-to-Payables process allows companies to get more controls around more people.

About the Author:

Purchase Requisitions - ExpenseWatch.com delivers expense control products & services for businesses that automate manual, time consuming paper-based processes while enabling visibility and control of all company spending.

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