The Age Of Automation
The progress of technology has been truly astounding, it was only 70 years ago that Christopher Strachey wrote the first Successful AI program, today we have self-driving cars and AI that’s used in everything from our Phones to our vacuum cleaners.
From a business perspective, AI and automation have arguably been the most impactful technologies in today’s business environment. Many businesses have pivoted to using automated Purchase Order Software as they have been proven to make their procurement flow more efficient and productive.
With so many advantages and little to no downsides, it begs the question “why are so many businesses stuck to their antiquated procurement practices?”
Switching to Purchase Order Software Seems Hard, But it Doesn’t Have To Be
The answer to this question is not a complicated one, we have found that many are simply afraid to adopt a whole new way of doing things when they see the old way still gets the job done. After all the saying goes, “if it isn’t broke, don’t fix it”.
The problem with this statement is that it forgets to consider that other companies might not share the same philosophy, as competitors move to modernize their procurement flow, those who do not adapt to the changing methodologies would find themselves left behind.
Automated Purchase Order Software, put simply just offers too many advantages compared to manual procurement flows. This is because businesses often need to devote dozens of billable work hours from their employees to handle procurement needs, this is a waste of both money and time.
It made sense to do things manually when it was the only viable choice. However, computing and automation have come a long way and computers can do the same procurement processes that take a human worker many hours in a millisecond.
But we might be getting ahead of ourselves here.
So before going into detail about Purchase Order Software’s advantages, let’s look at the software itself.
Purchase Order Software: What Is It Exactly?
Purchase Order Software or PO software refers to an automated function that connects a buyer with a seller. It does all the complicated bits behind the scenes and provides you with options for creating procurement orders via things such as handy templates.
Purchase Order Software comes in 2 main flavours, end to end solutions that take care of many procurement and accounting functions or stand-alone module-based solutions that automate one process in your procurement flow.
For a more in-depth look at how a Purchase Order Software operates take a look at ADAM.
The Advantages of Using Purchase Order Software
Efficiency, Efficiency, Efficiency
…. And efficiency. The reason we have repeated efficiency 4 times is that it’s impossible to overstate just how much Purchase order Software boosts the speed and efficiency of a procurement process.
Purchase Order Software has been proven to increase procurement flow by up to a whopping 60%. This figure translates into a lot of potential benefits for your company.
The first being time saved, automation eliminates the need for routine tasks that would be otherwise fulfilled manually by an employee and it completes them as soon as they get generated.
This frees up your employees to pursue more impactful work whilst saving your company money by streamlining the procurement flow so that orders come through faster; and the faster your company works, the more clients choose you over your competitors.
Better Filing And Inventory Management
Office work is often maligned as being menial and soul-crushing, this conception often comes from the seemingly endless amounts of filing and documentation that workers had to do.
It isn’t glamorous but it’s an essential function that cannot be taken lightly as businesses need to keep track of their filing, however, it also leaves workers feeling unfulfilled and is seen as a chore by many. This inevitably leads to burn out, a loss of efficiency and more mistakes.
Automating your PO can take some of the burdens off your workers, Purchase Order Software auto-generates a lot of documentation and makes it easily available for future reference via intuitive search and sort functions.
Another area in which Automation can save your business time and money is by changing how inventory management is done. Purchase Order Software can help anticipate the direction of the market and the goods that are going to be in demand so that high-demand orders can be given more space in inventory.
Reduce Human Error and Faster Decision Making
As human beings, it’s our imagination that sets us apart from machines, we can have complex thoughts, emotions, and the capability to dream up the impossible. However, all this leaves us with some very human downsides.
Given enough time and repetition, even the most dedicated human is going to succumb to distraction and a loss in accuracy, especially when it comes to disorienting data such as numbers and calculations. Luckily, we have invented cold, rational, and logical machines to do this work for us.
It is the nature of humanity to overcome the obstacles we face via the ingenuity of our inventions. Just as inventing the wheel moved our species forward, the invention of Purchase Order Software has moved businesses into the next stage.
Computers are capable of processing data near instantaneously and without error, something that might take a human worker many hours and that’s with the chance for human error.
The speed of computing also has a profound effect on the decision-making process of a company. This is because Purchase Order Software keeps a close eye on the market and delivers information about any changes in real-time, this gives companies more time to react and make critical decisions. This was impossible in the past as the speed of information was limited to insider sources and the business’s existing connections.
Purchase Order Software levels the playing field by democratizing information and making the market fair for everyone.
Purchase Order Software: Innovation Via Automation
The relentless march of progress means that that a leap in technological prowess is inevitable, the longer a business sticks to the traditional ways, the more distance their more innovative competitors will put between them.
Machines can never truly replace humans, but they can make our lives easier and free us to pursue more fruitful endeavours. The Purchase Order Software market has expanded greatly in the past decade, so this is the perfect time for your company to take the leap into the world of automation and help bring about a new age of progress and innovation.
A software that manages your purchase order process
End to End solutions that automate whole procurement flow and Module Based solutions that automate part of the procurement flow
To streamline the procurement flow and allow for quicker processing of Purchase orders whilst reducing the risk of dublications and incorrect payments
The prices are often based on the businesses needs and can be customised to fit specific need cases
These two terms are often used interchangeably but can also refer to separate modules within an End to End solution