Purchasing Control and AP Invoice Management from ExpenseWatch.com


Uploaded by ExpenseManagement on 17.05.2010

Transcript:
To keep your business running smoothly, you buy any number of goods and services.
Like many small and midsized businesses, most likely you don’t have a formal purchase
order process and use a credit card to buy the majority of what your company needs. If
you do have a purchasing policy in place, you probably send paper or email spreadsheets
to get approvals before you make your purchases.
Ad hoc and paper-based purchasing processes leave companies with gaping holes in their
ability to manage company spending. Employees make purchases from any number of vendors,
leading to over and duplicate spending. It’s nearly impossible to make strategic purchases
or hold suppliers accountable for transactions. And the only real visibility you have is after
the fact, when invoices and monthly credit card statements arrive.
The ExpenseWatch.com Purchasing module opens the window into all of your spending to buy
goods or services, providing in-depth visibility over company-wide purchasing. Everything is
managed electronically – access to company catalogs and networked vendors, purchase orders,
packing list reconciliation, invoices, all the way through to authorization for payment
-- reducing or eliminating the need for paper.
Creating purchase requisitions couldn’t be easier. You search company catalogs, or
link up with preferred vendors in your purchasing network, accessing only the products you specify
at your negotiated prices. You can set up order pads for recurring orders, such as a
new employee kit or weekly coffee supplies. You can review the order history of items
before you request them, helping to prevent unnecessary and duplicate orders. Scanned,
photographed or faxed quotes are easily attached and can be viewed by anyone reviewing the
spending request.
When ready, purchase requests are electronically routed to as many people as you designate
to approve requests. Email notifications with embedded links advise them of requisitions
needing attention. Approvers can approve or reject individual lines or the whole request.
They can add additional approvers on the fly, and can set up delegates to approve in their
stead, should they be out of the office. When company budget information is uploaded into
ExpenseWatch.com, approvers have complete visibility into what impact the spending request
will have against planned spending by month and by year.
Once requisitions are approved, purchase orders are easily created and automatically sent
directly from ExpenseWatch.com to vendors, using their preferred communication method.
Orders with networked vendors can be paid by credit card at the time the order is placed.
Purchases can be consolidated for discounted shipping rates and to take advantage of volume
pricing.
ExpenseWatch.com allows you to optionally integrate receiving with your purchasing process.
Packing lists are entered against a PO to verify that all items ordered were received
or that services were rendered. If the packing list entries exceed your receiving threshold,
ExpenseWatch.com automatically sends out requests for additional approvals, providing options
for whether these extra items should be accepted or rejected.
With just a few mouse clicks, your accounting department can reconcile and match purchase
orders with invoices using ExpenseWatch.com AP Invoice Management. This is a key step
in eliminating duplication, over spending and paying for products and services not rendered.
What’s more, AP Invoice Management can be used to capture expenses that don’t typically
require a purchase order, such as rent, utilities and payroll, allowing you to control and gain
visibility into this spending in your company as well. Once an accounting reviewer gives
the final okay and issues a check request, ExpenseWatch.com sends the information to
your accounting system for payment, eliminating the need to re-key information.
ExpenseWatch.com offers the most comprehensive reporting engine in the industry, enabling
you to view and analyze your company purchasing data. You can see review spending against
your plans; see, stop or modify spending that is in the pipeline awaiting approvals; and
analyze which employees are spending money and on what. This real-time window into your
company spending – what’s been requested, approved, ordered, delivered and paid –
means better decision-making and superior business performance.
Purchasing is part of the comprehensive, fully integrated ExpenseWatch.com expense control
suite, which also includes Expense Reports and AP Invoice Management. Each best-of-breed
module resolves specific spending issues you may be facing within your company. When used
together, you eliminate time and resource consuming manual, paper-based expense control
processes, while automatically ensuring your company spending policies are applied and
enforced.
If you run a business, you have expenses. With ExpenseWatch.com you have the power to
control them.