Purchase orders (also known as POs) and invoices often get confused or used interchangeably when they are, in fact, two different documents that each serve their own purpose. Both are key elements of the procurement process for any business.
But what’s the difference between the two – and when would you use a PO vs an invoice?
Purchase Orders (PO) and Purchase Requisitions are extremely common documents used by practically every business. They help business control costs, ensure that business rules are followed and that the business gets the best possible deal. It’s also easier to track down problems e.g. if the wrong items are delivered the signed copy of the purchase order proves what was actually ordered.
Central Wyoming College saw significant value in streamlining their PO process which involves calculations, lookups and dynamic routing fixing a particularly error-prone procedure as a result. Instead of a paper-based process that required manual follow-up, delays and hours of wasted time, they now have a digital process that works on all devices, is easy-to-use and saves hours of staff time allowing them to focus on students rather than paperwork.
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.
Purchase Order Approval is one of the most common day-to-day workflows.Many customers choose Live Forms to digitize this and other routine workflows. Automating purchase order approvals is easy and provides several benefits:
Pre-filled forms and automatic calculations eliminate errors & omissions.
Workflows are conditionally routed based on business requirements.
Purchase Orders are approved and completed on-time.
Watch this short (3 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.
The core of a purchase order workflow is filling out a form and getting it signed by your customer. Yet, in most cases, it’s unnecessarily painful. Someone fills out a PDF or Word document or an Excel spreadsheet. If internal approval is needed, that usually means print and sign. Then it’s e-mailed or faxed to the customer who goes through the same print, sign and fax back.
With frevvo, it’s easy and automated.
Create the PO electronically, enter your customer’s email address and Send the Order.
The customer will get an email with a link to the PO. Click it on any device and up comes the PO.
Review it, sign right then there and send it back.
frevvo will send a copy of the signed PDF to you as well as the customer by email.
That’s literally all there is to it. Check out this video – it’s just 70 seconds long. Want to try it for yourself? Workflows require an authenticated user but it’s easy – click here to sign up for a free cloud account and we’ll help you set this up in no time.
How easy is it to create signature forms? Simply drag and drop the Signature control into your form. You can also create digitally signed sections. When the user clicks to digitally signed, the same box pops up and he/she can sign using a touch screen or mouse.