How to Choose the Best Purchase Order Software
The Purchase Order software market is a competitive one with many companies vying for your attention. With so many PO (purchase orders) software systems to choose from, it can be hard to know where to start when deciding which PO system is best for your business. The following blog post will help you make the right decision by outlining the most valuable information you need to know about Purchase Order Software before making the final decision on which system is right for your business:
Here's a quick video summary to help you get the most out of this article if you don't have time to read it in its entirety:
What is purchase order software?
Purchase Order Software is a system used to manage purchase orders. It allows businesses of all sizes to automate the process of creating and processing purchase orders, eliminate manual errors and reduce administrative work such as order entry, invoice matching, and payments.
PO software is used to enter the details of a purchase order, track it through each stage in the process and ensure an efficient approval cycle - saving time for your team by avoiding duplicate data entry plus providing additional business intelligence features so you can make smarter decisions.
You spend hours every day managing your company's purchases, but with a cloud-based PO software system, you can automate every step of this process, making it easier for you to move quickly through your day with less stress while keeping accurate records at each stage. You'll be able to create purchase orders (POs), transmit them for approval, and track how they are sent to suppliers and suppliers interact with the PO.
Cloud-based purchase order software is a game-changer for any organization that purchases goods. The automation of the entire process from start to finish will help you create better contracts and stay organized, ensuring accuracy when it comes to crunching out an invoice or PO with all necessary information such as price tags attached!
A variety of features are available depending on which type and brand you choose - so, do some research before committing!
What to do before deciding to use PO software?
Before purchasing a PO Software there are some important steps you should take first:
Decide what type of PO software system will benefit your business most.
Decide how many users require access at any given time.
Make sure you understand your employees’ needs.
Review which supplier management tools are required as part of the PO package (e.g., contract management, reconciliations).
Check PO software compatibility with your existing business systems.
Once you have the answers to these questions it will be much easier for you to find a PO software system that will work best in your company.
You can check Prokuria’s PO Software Systems to see if it’s a fit for your needs.
How to choose the best PO software?
The PO software that you choose needs to be the best fit for your company. If it’s not, then soon downstream problems may start to develop. There are some conditions below which will help you make a better choice in the PO system:
The user interface or look of PO software should be clean and intuitive with an effortless way to navigate through different screens. It is important because this means less training time for employees who need access on the go at any time. You need something which has been built from the ground up keeping end-users in mind. This way they will find it much easier working within the chosen solution.
The PO software should be easy to use. The PO process can be extremely complicated, and it will not help if the system you choose is difficult for your team members to use on a day-to-day basis.
PO software must have good customization options: The PO software system must be tailored to the company's business process. That is why it should have all its features customizable so that they can change according to your specific needs. Many systems on the market will offer you only a standard set of functions and will not let you make any changes to them. This might not work if there are some minor or major deviations from their default configuration.
Your purchase order software should integrate with your current business systems such as accounting and inventory control. PO management software modules must be able to integrate well with other systems in the business such as ERP, CRM, etc.
Your PO software should encourage collaboration (especially now in the remote work environment. That means the system should not just perform basic data sharing but also allow for advanced functionalities like communication between different departments of your company (for example sales with procurement or with finance) and even partner companies.
You should choose a PO software that offers excellent reporting capabilities: The reports produced by PO management tools come in handy for different purposes like analytics, forecasting, etc., depending upon how companies use them; this makes it necessary that your chosen solution must meet certain criteria like choosing ability (of report types), scheduling (when these will get generated) and so on.
Depending on your organization size, you might need a system that can accommodate multiple locations, multiple currencies, multiple warehouses, so that everyone is on the same page no matter where they are in relation to each other. This includes being able to see what products have been ordered by another location rather than having it appear as an order from outside of their geographical area which can cause problems when trying to reorder something quickly.
PO software system must have good security measures: PO management systems are mostly used by different people working in various departments of any company, so it is particularly important that the solution you choose offers multiple security options like role-based access control, etc., for maximum information protection.
You should choose a PO software that can scale with your operations. This is usually a must for growing companies where you want to have a robust system in place that can grow with your development but still pay for the system as you start using it increasingly.
Before committing some time and money into purchasing new PO software it is important to run it through first on a free trial which will allow you to fully experience the full capabilities of PO software before buying your licenses or subscription plan.
Prokuria provides all these features and more! You can try it for free here.
Who needs a PO software system?
Any business that uses purchase orders or quotes for the procurement of goods and/or services should consider using PO Software. This includes companies in any industry like manufacturing, construction equipment rental businesses, healthcare facilities, etc. Purchase Order Software can help you streamline your purchasing process so that it is more efficient, which in turn will allow your company to save money on operational costs over time.
There are many types of businesses that would benefit from using PO software. Any company that needs to track inventory levels and purchase orders will find this type of system helpful for keeping accurate records. PO software can also help companies that need to track recurring POs for inventory items.
In today's world, efficiency and effectiveness are key to success. If your business is still using a manual system for purchasing goods or services because of its ease in managing data entry, then it may be time that you consider purchasing order software. A PO software system will allow companies more control over how they enter orders into an interface that can save hours each week when organizing these records later down the line - not just during crunch-time deadlines!
PO software systems are ideal for use in businesses that need an efficient way to manage individual PO records or PO items. PO management is especially important within large corporations with distributed business locations, branches, or divisions since it allows them to keep track of all purchase orders no matter the location.
PO management becomes even more important when a company must deal with geographical locations and branches or divisions, allowing them to track PO records no matter their location within the organization.
Key features you should look for in purchase order software
Finding PO software that works for your business can be a struggle. There are so many different PO software systems on the market, all with their own sets of features and benefits; it’s easy to become overwhelmed by choice. To make sure you choose the best PO system possible, here are the key features you should look for when deciding to purchase PO software:
1. Fast Implementation
When choosing PO software, you will want to find something that can be implemented quickly so users are up to date with the system in a short amount of time. Look for options that allow your team to test, integrate, and train as much as they need before going live with the system so there are not any surprises when using it. Turnaround times may vary based on industry and company size, but this is something every user should be able to expect from a good purchase order software solution.
2. Customer-centric interface Purchase Order Software should be customer-centric, meaning that it allows multiple users to look at data simultaneously without overwriting any changes. Also, when the latest information is added to one location, all other areas of the system are automatically updated so everyone has access to the most recent version of data. This way there are no delays or errors when receiving or sending out purchase orders through this centralized system because the system will tell who changed what & when things were changed.
Purchasing is just one piece of the business puzzle, so you will need a system that integrates with the tools your employees are already using. This way employees do not have to use multiple pieces of software to achieve their job duties, which can help organize everyone in the company more quickly and easily. It also ensures that data is always up to date because it comes from two or more sources into one PO software database.
4. Cloud-based Storage PO software should be able to keep all your POs in cloud-based storage space. This will ensure that no matter what happens, your purchase orders will not disappear, and files will always be there when you need them. Another benefit is the ease of remote file access. You can easily access and share these documents from anywhere with an internet connection thanks to cloud-storing functionality. Cloud storage for PO management ensures that no matter where your employees are located, they have full access to their important documents at any given time.
5. Online One key benefit of using a PO system is being able to manage POs online from multiple users simultaneously from different areas or even across different time zones. Being able to use software entirely online really speeds up the process of creating a purchase order and having it sent to your
6. Automated workflows PO software should be able to do the legwork for you. Make sure the Purchase Order software you choose includes automated workflows and tasks to help save time and create a seamless process.
Setting up custom flows should be easy as well; you can route requests based on certain fields which will include automating approvals that may have taken over in your system before. After setting these things up they flow automatically from one area into another. PO software with automated workflows can make your life much easier.
PO workflow automation will ensure that the right information is always captured, and it allows you to easily see where each step of a purchase order process stands at any given time. This way, whether you are on the supplier end or buyer end of PO management, there are no more delays in receiving or sending out PO requests due to missing steps; everything flows smoothly through one central system of record for purchase orders.
7. Customizable forms You should look for PO software systems that allow you to fully customize the fields in which you collect data. This way, if different departments require different information from suppliers, this requirement can be added to the customs forms. This will ensure that you have all the necessary information at hand when making a purchase order request.
It is important to be able to customize POs forms because this builds a trusted relationship with vendors. Furthermore, it will help you in the process of making changes to orders which positively impacts all aspects of your business.
8. Speedy approvals Make sure your PO management software offers speedy approval workflows so that your business stays productive. You will be able to automatically route incoming PO requests based on different department managers, so the approval workflow is handed over to the respective agency as soon as possible. This means no delays in receiving or sending out PO requests due to missed steps and a streamlined process for all parties involved. suppliers.
9. Online collaboration You should consider purchasing a PO system with online collaboration abilities to stay connected and informed during all steps of a purchase process. This is crucial to avoid delays in receiving or sending out PO requests due to missing information or errors.
A good PO software system should always include round-the-clock access so employees from anywhere can collaborate on creating and receiving purchase requests. This also includes the ability to view and accept incoming PO requests in real-time, which will help you save time and stay on top of your game.
10. Automated cross-checking Look for PO software that allows you to automatically cross-check your purchase order forms. This way, if someone makes a mistake when entering information on their end, it will not get sent to the supplier and create delays in receiving or sending out POs. The system should instead immediately let the user know of any errors or omissions so they can make changes before submitting anything to the vendor. This can be done through automated email alerts, so all users are always informed about new purchase requests coming their way or mistakes made on existing ones.
11. Role-Based Access For more efficient and effective purchasing, it’s important to ensure that each user has access to all the information they need at their fingertips. Purchase order software should have role-based permissions so employees can only look at what they are supposed to see based on the user's role within the organization. This is especially helpful when you have multiple users trying to manage one purchase request because no employee will have access to any information they are not authorized for. Being able to restrict users from looking at PO forms outside of their job description limits errors due to sharing too much sensitive data with people who do not need it.
12. Easy real-time and customizable reporting
A great PO system should be able to provide real-time reports on incoming and outgoing purchase requests. This way you can see how many POs have been sent out to suppliers, returned by the supplier, and which ones have been received without having to manually look for them. If a purchase order has gone missing or is taking too long to arrive at the vendor, good software will always let you know so you will not waste time trying to find it before acting.
Look for PO software that allows users to generate pre-defined or custom reports on demand. These should include any data entered the system (e.g., vendor contact info, PO numbers, etc.) as well as information related to supplier performance (quantity delivered, date received & accepted).
Customized reports are not only beneficial for keeping your team organized—they are great for providing accurate and detailed documentation of each purchase order created in this system.
13. Budgeting The best purchase order software offers users the ability to plan and create budgets for future purchases. Not only will this help keep your organization on track, but it will also provide peace of mind knowing you did everything possible to minimize surprises in terms of costs and delivery times.
Good purchase order software should allow accounts payable teams to enter suppliers' invoices in any currency they want (e.g., U.S. Dollars, Euros, etc.). Multi-currency has become popular because many managers do not know how to calculate exchange rates and the buying power of their organization. This is where good customer service comes in: You can often resolve this problem right away by calling or emailing customer support.
15. Help & Support Lastly, look for good customer service when choosing PO software because things do not always go as planned—especially with technology. Good companies should be able to offer timely support (via phone, email, or chat) for any issue that arises while using their system. They should also have online guides and videos available so you can find the answers you need quickly while troubleshooting issues yourself. Before making any purchase it’s important to research what features come with the package and whether there is a risk-free trial period so you can try out the product before committing to anything. A good purchase order software will always give its users access to a free trial version, so they know exactly what they are getting themselves into before spending time & money on this new system.
Prokuria has all these features and more! Sign up for your free trial today.
Benefits of using PO Software
A purchase order software system is essential if you are looking to maximize efficiency and reduce costs in your business. With PO software, you can manage large volumes of data that would otherwise bog down a spreadsheet or simple bookkeeping folder. You can also easily locate the data, communicate with suppliers and partners, and even generate reports that will help you achieve growth.
Purchase order software provides your company with several benefits, which include:
1. Streamline business processes One of the main benefits of purchase order software is that it eliminates wasteful paperwork and processes which can help your company cut costs.
2. Increase productivity
With purchase order software, there is no more waiting around for deliveries or battling with stacks of paperwork to locate a specific document. The system provides real-time data for faster processing of information which results in higher productivity levels. All you need to do is log into your account from anywhere with internet access and manage all facets of your business without leaving your desk.
3. Lower costs One of the biggest benefits of using PO software is lower costs. The software works in real-time, which allows you to easily locate orders, compare pricing, and access records anytime. By doing these tasks manually, you will be wasting resources since there would likely always be some lag time between when orders were placed and when they were processed. Once orders are entered into your business's PO system, they are immediately accessible by all employees connected to the network—which means no more wasted man-hours searching for needed data.
4. Enhance relationship management Your purchase order software system can help you manage your relationships with suppliers to ensure that you are getting the best service possible. You can use the software to communicate efficiently and document conversations for future reference or address any issues that may arise.
5. Manage large volumes of data One feature that all good purchase order software packages share is they allow you to efficiently manage large volumes of data in real-time without bogging down or crashing your computer. Instead of using spreadsheets or folders for storage, companies that need more advanced management use PO software to manage their inventories and suppliers with ease through customizable modules.
6. Reduce redundancies Purchase order software can also reduce redundancies by helping you keep track of ordered inventory based on PO numbers for easy reference. The software allows you to easily find items that need to be re-ordered or locate a supplier's phone number with the click of a button, which saves time and money.
7. Gain financial insight
Another benefit of PO software is access to detailed reports about your financial status. You can even use the system as a tool to help forecast your company's success by generating actual data about its interactions with vendors and suppliers.
8. Improve reporting abilities You can also generate reports to help you determine areas that need improvement as well as the status of your business. Purchase order software allows for detailed reporting on several factors, including sales and margins.
9. Improve organization A PO software package will allow you to organize all your inventory under one roof rather than using different systems that may not communicate together. You can communicate with suppliers, which boosts efficiency and helps reduce errors, plus you will generate reports that you can use to identify problem areas and boost profits.
10. Quickly identify issues One advantage that the purchase order software system has over other types of storage is that it provides an organized record that details every transaction between businesses and their suppliers. This makes it much easier for companies who want to track down where inconsistencies in the system may be occurring.
11. Improve workflow With purchase order software, businesses can streamline their workflow and encourage collaboration among employees when they have access to the same data.
12. Save money
Purchase order software can save companies a great deal of money because it does not require the purchase of expensive hardware or other equipment. The software is available as either a cloud-based or desktop version depending on your individual business needs. No matter which system you choose, both options will allow for efficient management of important data without breaking the bank.
13. Assist with regulatory compliance Your purchase order software system can help you ensure that your company is complying with all regulations regarding order accuracy and delivery dates. Alternatively, your PO software may be programmed to automatically create reports that verify that you are staying compliant. These features allow employees to focus on more important tasks instead of wasting time looking up information or running reports.
14. Improve decision making You can use your PO software system to generate reports related to inventory levels, supplier performance, top products sold by volume or dollar amount, invoice status, accounts payable aging, etc., which will assist you in better managing your business. The ability to access current data at any time provides companies with the insights they need to make smart decisions.
15. Ease of use A Purchase Order software system will be much easier to navigate than your current filing system. The software will allow you to quickly locate items, generate reports, print labels, and invoices, and more - all within the same program. You can even choose from distinctive features that work best for your business's needs, such as automated cross-checking capabilities or integration with other popular programs.