Posted in Financial Process Automation

How Purchase Order and Purchase Requisition Templates Help Your Business Succeed

Automated purchase orders are efficient

Purchase Orders (PO) and Purchase Requisitions are extremely common documents that practically every business uses. They help businesses control costs, ensure that employees cannot bypass business standards and that the business gets the best possible deal. Problems are easier to track down. If the vendor delivers the wrong items, the signed copy of the purchase order proves what the business actually ordered.

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Posted in Financial Process Automation, Workflows

How Sales Order Form Templates Help Improve Business Efficiency

Automated sales orders increase cashflow and let salespeople focus on selling.

Organizations create a sales order form to list the products and services being ordered by a customer. The customer may provide one or more purchase orders (PO) for that purpose.

The sales order is a document that’s created internally by the company so that it may process the order in a controlled manner with the necessary checks, authorizations and signatures in place. Generally, the sales order form includes any associated purchase orders for convenience. In some cases, the sales order may also be sent externally to the client for signature, for example, to formally accept Terms & Conditions.

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Posted in Workflows

Workflow Analysis – How to Improve and Optimize Your Processes

Workflow analysis improves efficiency

Workflow analysis is the process by which your business examines data about its workflows, determines trends and improves their efficiency. In turn, this improves customer satisfaction and the competitiveness of the business itself.

In most cases, if you ask people why a particular workflow is setup the way it is, they’ll tell you “That’s how we’ve always done it.” The design probably made sense years ago but as the business and its environment have changed, the workflow was probably never updated.

Workflow analysis is the first step towards these necessary updates. Apply it in the following ways:

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Posted in Financial Process Automation

How to optimize purchase order processing. Hint – Stop using Excel!

Excel purchase order

Organizations of every stripe – small businesses, schools & colleges, and even some large companies – continue to email Excel sheets to approve purchase requests and issue a purchase order. While that’s better than paper, Excel still has numerous disadvantages particularly in today’s mobile-centric, data-driven world. You need a fully digital solution.

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Posted in Workflows

What is a workflow? Everything you need to know with examples.

Business Planning - Diagram, Document and Automate workflow.

Automation and digital transformation aren’t easy to understand. There’s a lot of jargon such as workflow management, low-code platforms, and process automation.

In this article, we’ll discuss:

  • What exactly is a workflow,
  • Why you should improve workflow efficiency,
  • How you can digitize your workflows using modern, visual software,
  • What business benefits will accrue today, and
  • How automation prepares you for an increasingly data-driven future.
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Posted in Financial Process Automation

A Guide to Efficient Procurement Management

Digital procurement management

Let’s face it – even though procurement management is an essential part of successful businesses, it’s one of the most disorganized activities at many organizations.

More often than not, inefficient manual processes are the root cause of these challenges. These messy and wasteful processes causes delays, errors, and workarounds that result in much larger downstream issues such as:

  • Mismanaged supplier relationships
  • Delayed projects
  • Unnecessary legal costs
  • Overworked employees
  • Lagging stock price.
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Posted in Financial Process Automation

Top 5 priorities for procurement in a 21st century business

Changing priorities for procurement

Procurement is a core operational function of any business. Without the ability to obtain the necessary materials, a business cannot manufacture its products.

Traditionally, procurement’s most important goal was to lower costs. However, the pace of modern business has accelerated dramatically. Today’s businesses also operate on a global landscape sourcing materials and selling products across the world. That’s forced procurement to become a digital, measurable function aligned with overall corporate priorities.

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Posted in Financial Process Automation

Procurement vs Purchasing: What are the differences?

Procurement vs purchasing

Procurement vs Purchasing vs Supply Chain Management – business people tend to use these terms interchangeably. While they are related and are all part of a company’s finance or accounting function, there are differences.

Let’s understand each one and the differences between them in more detail.

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Posted in Higher Ed, k-12

What does Digital Transformation mean for educational institutions?

Digital transformation in Education

CIOs at Universities and K-12 schools understand the importance and urgency of digital transformation. There’s tremendous opportunity to radically improve the student experience within the institution.

There’s a lot of confusion on what exactly digital transformation means when it comes to education.

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