The importance of efficient purchase order management
“Many organizations unwisely forego purchase orders because they perceive the paperwork to be a hassle that slows things down.”
He’s right. Paperwork is a hassle and does slow things down. However, this is not a good enough reason to forego purchase orders, hence the word “unwisely”.
From creating a requisition to gaining approval and receiving an invoice from the vendor, there are up to 7 documents involved in the purchasing cycle. That is a lot to keep track of for a single purchase.
And this only gets more complex as a business grows.
Maintaining a paper-based system at the enterprise level is virtually impossible. For smaller companies, it’s do-able, just incredibly inefficient.
The frustration and inefficiency that comes with managing piles of paperwork is no longer an unavoidable obstacle to overcome. By establishing an automated purchase order workflow, you can centralize documentation, seamlessly track progress in real-time, and shorten purchasing cycles.