Purchase Order Software?
There was once a time when paper was king, everything was written down and businesses lived and died based on their record keeping, one lost sheet and your whole process breaks down, one unnecessary duplication and your budget does not make sense anymore.
But that was then, and this is now.
What if there was a better way? What if we told you that we know a solution that can save you from hours of gruelling paperwork whilst also saving money in the long run.
Purchase Order Software (PO Software) is the solution for any business facing problems due to their unoptimised purchasing systems.
PO Software was first launched to the masses in the early 2000s and has continued to revolutionise business operations since. This technology has seen constant innovation with new advancements in computing and networking, today it has become the backbone of many businesses around the world.
A simple definition of PO Software would be a software that manages your purchase order process, end to end. However, modern PO Software goes beyond this simple definition and is more akin to a digitised accounting department that keeps track of your businesses purchases and spending.
Purchase Order Software and Small Businesses
PO software might seem complicated at first glance, but this can’t be further from the truth. Most PO software has been designed to be user-friendly and intuitive so that even a complete beginner can grasp how to use it after a training session or two.
Now you might be asking yourself, “My business isn’t a huge corporation, so do I really need all this high-tech software?”.
The answer to this question is a resounding yes. And we listed some proof below to back that up:
Reduced need for manual work: PO software eliminates the need for the complex calculations and data crunching needed to generate reports as it’s all digital and automatic.
The software’s algorithm is more accurate than a person and makes significantly fewer errors, and most importantly, it can process orders 24/7 with minimal remote input for approvals from you.
Reduces costs: Time is money, and analogue procurement management takes a lot of time, this means it also costs you a lot of money.
PO software frees up you and your employees time to focus on more important things whilst it keeps track of your data for you. Studies have shown that implementing PO software can reduce operational costs for small business by a whopping 50%
Transparency and ease of access: Analogue procurement can really start taking up space as the years pass by, and with each new purchase order, the piles of paper get bigger and even harder to navigate.
Finding an older purchase order can be a nightmare and take you or your employee’s hours or even days depending on how deep it’s been buried.
This is a non-issue with procurement software as it can immediately pull up any purchase orders made using it with just a few clicks of a button.
This saves you the time it takes you to go diving for a PO order that might not even be in the pile of papers you are searching through.
Things to Look for in your Purchase Order software
- Automated workflows
This is the ability to create customized workflows that set up a seamless purchase order process. The workflow should require minimal manual interaction and automatically reach out to the relevant parties and move on to the next stage of the process.
- Customisable forms
PO forms in the workflow should be fully customisable at any stage and allow for modification and updates to the data about the purchase orders.
- Automated cross-checking
The software should have cross-checking capabilities that match the data against each other to find any discrepancies in them.
- Role-based access
Permissions to different sections of the workflow should be customisable without affecting the overall efficiency of the workflow.
- Real-time reporting
The software must be able to offer insights about the efficiency of the PO process within the business in real-time so that any delays or bottlenecks can be found and eliminated.
Choosing the Right Purchase Order Software For You
For a small business, it’s not necessary to get all the bells and whistles when it comes to PO software.
These software are often module based and getting everything can be a waste of money if you only need one of the modules.
So, before you commit to a software ask yourself these questions.
- Are there multiple people in the company?
If yes, then look for PO software that supports multiple users and has remote approval capability.
- Do I need to order lots of goods from different vendors?
If yes, then look for PO software with active vendor management and a wide range of suppliers to choose from.
- Do I have accounting software that I want to use alongside the PO software?
If yes, look for companies with integrations to popular software and open API so it can be integrated into your workflow
- Do I need advanced analytics beyond simple records of sales?
If yes, look for PO software that has advanced analytical capabilities that go beyond simple record keeping.
- Is my company growing?
If yes, invest in a flexible Purchase Order System that can be upgraded as your company grows.
If you found yourself answering yes to any of the above questions, we have good news for you.
ADAM is a highly flexible purchase management solution that can be adapted to any level of business for an affordable price. ADAM’s strength lies in its module-based customizability, this means that your ADAM can be configured to what your business needs.
ADAM offers all the capabilities listed in the questions above as well as a few extras. This platform is built from the ground up with your needs in mind and can be integrated into your existing workflow or used standalone as a turn-key solution.
ADAM’s main areas of expertise are:
- Digitalising Procurement
- Vendor Consolidation
- Punch-Out Catalogues (Closed Marketplace)
- Integration Solutions
Till the date of publishing, ADAM has helped to save over 1 million USD in processing costs and saved over 20,000 hours in work time for its customers.
And the best part is that you can try ADAM for free. ADAM offers a no strings attached 30-day free trial for all its packages, furthermore, our team will be happy to work with you to come up with a custom solution if required. You can find more information about ADAM’s pricing plans here
Take Your Business to The Next Level with Purchase Order Software
In today’s competitive business world, you need any edge you can get over your competitors, PO software can make a huge difference for your company’s efficiency and bottom line. Save yourself and your employees some time and money, join the E- revolution now!
A purchase order system is a software that manages your purchase order process, end to end.
If dealing with procurement takes a noticeable amount of company time and you want the ability to manage procurements whilst away from home with remote access
Savings on operational costs and up to 60% faster turnarounds on orders made
By looking at your businesses size, scope and employee numbers to determine which modules you need and finding a purchase order solution that offers those particulars.
ADAM is highly customisable and module based, this allows for more seamless integration into existing workflows as well as setting it up as an independent turn-key solution. Furthermore, ADAM offers more value for your money when compared to most of our competitors.