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.
Purchase order and invoice processing are basic functions every organization performs as part of its day-to-day operations. Employees in the finance department handle POs, get them signed, send them out to vendors and process related invoices on a routine basis.
These processes can often have complex business requirements:
When people are freed up from routine back-office tasks like getting approvals, correcting errors on forms, and looking up part numbers manually, they have more time to focus on work that matters – customers, patients and students.
This is a crucial aspect of digitally transforming your business. Unless your hiring budgets are increasing 10-15% every year, there’s simply no way to do new things unless you stop doing old things. If you’re an organizational leader, one of the most important things you can do is create and write down a plan that clearly identifies the activities that you won’t be doing this time next year. Let employees know that you aren’t just paying lip service to digital transformation but it’s at the core of the next several years.
Automation isn’t coming; it’s here and it’s the opportunity of a lifetime
Just look around you. See those core business processes. One way or another, they’ll be automated. It’s the opportunity of a lifetime and it’ll change your organization.
Automating these core processes is about driving 50% (or greater) cost reductions in parts of your operations. It’s about changing and enhancing what your people do and don’t do and, most critically, it’s about boosting revenue growth.
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Today, business takes place online and on mobile all around the globe, 24/7. Automating everyday business processes and workflows has become hugely important in 2018 as many companies realize that manual processes may not cut it in a world where they must act with unprecedented speed to meet customer needs, improve and innovate continuously to compete and analyze critical information.
Over the last 20 years, manufacturers had to learn to compete at the “Walmart price”. Service providers were largely unaffected. After all, you couldn’t manufacture a cab ride or a hotel room in China. How things have changed. No matter what you do, technology and automation are creeping into every area of your business and there are dozens of startups with the brains and funding to compete.
… or Amazoned or AirBnB’d? Think about it. When was the last time you went into a travel agency to book your flight? Printed out directions for your road trip? Walked into the bank to write a check for cash? We can’t remember either.
Purchase Order Approval is a very routine day-to-day workflows. Many customers choose Live Forms to digitize this workflows.
Starting with one of our pre-built templates, you can easily customize it to create your own fully electronic, mobile-capable and business-ready PO in very little time. You won’t need expensive and hard-to-find skills like iOS/Android app development or HTML5/CSS3 expertise to create a beautiful, electronic app that just works on all devices.
At frevvo, we just digitized a completely customized Purchase Order approval workflow for a University customer in 45 man-hours.
Travel Authorization & Reimbursement is one of the most common day-to-day workflows. Many customers choose Live Forms to digitize this and other routine workflows. With Live Forms, automating this workflow is easy and provides several benefits:
Employee information is automatically filled in, and calculations are automatically performed.
Form data is validated. As a result, errors and omissions are eliminated.
E-signatures and built-in mobile means approvals can happen anytime, anywhere and from any device.
Watch this short (4 min) video to quickly see how digitizing this routine workflow with frevvo can help save you time & money.
In a previous article we talked about how senior finance executives at companies are optimistic about the U.S. economy (56%) and about their own company’s performance (69%). But, they’re concerned about inefficiencies and willing to invest in technology to improve performance.