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PO Software: 10 Set-up and Management Features Explained

Set-up and management features

Table of contents:

PO set-up and management features

PO set-up refers to actions that you perform only once when setting up a new PO software installation. It can include database configuration (i.e. creating tables in the database), establishing user accounts, etc. Although not required, typically you would use a separate application to perform such tasks.

PO management refers to actions that you perform when adding users and assigning roles. It can include database user/password updates, etc. Typically this is done using the PO software itself.

The aim of this article is to give a clear understanding of how the feature works, what they do and where can they be used and it describes how the feature interacts with PO software to manage a company's PO process.

Let's have a look at the 10 set-ups and management features used in PO software:

1. Supplier Management

Supplier Management is a feature in purchase order (PO) software that helps manage suppliers outside of an organization's procurement process. It allows you to create and maintain a list of suppliers, track contact information, view order history, and more.

Supplier Management ensures that suppliers are always up-to-date with services, prices, and any other terms in their contracts with the company. This function is important for business continuity because it helps to ensure there are no errors when processing invoices. Businesses that fail to use Supplier Management may harm their revenue and profit margins.

When a supplier is managed, the software automatically performs certain tasks to ensure that suppliers are complying with contracts and terms of business. This may include checking new onboarded suppliers, negotiating new rates, updating supplier information, or discounting outdated invoices. Supplier Management helps companies increase cash flow by minimizing the time it takes to process invoices and maximizing cash flow.

Supplier Management also works closely with the sales team to ensure that sales quotes and orders are accurate. This is particularly important for businesses that rely on purchasing goods or services from suppliers, as these relationships affect their business' revenue and survival.

By using Supplier Management, you can keep track of all your suppliers in one place. This makes it easy to find contact information, review order history, and more. Plus, it can help you make better purchasing decisions by providing information on past orders.

2. Contract Management

Contract Management is a feature in PO software that helps manage and track the contracts between two or more parties. This feature can help to keep track of contract dates, expiration dates, and contact information. Additionally, it can help to create and send invoices, as well as receive payments. Contract Management can help to streamline the contracting process and ensure all contracts are relevant and up-to-date.

Key activities include performance analysis against the contract terms to maximize operational and financial success while also identifying and minimizing financial and reputational risk through non-compliance with contract requirements.

When choosing a PO software, it is important to consider whether or not the software has a Contract Management feature. If it does not, the software may not be able to meet all your needs. Alternatively, if the software does have a Contract Management feature, be sure to test it out to make sure it is fully functional and meets your needs.

By using this feature, businesses can save time and money. Contract Management is a valuable tool for any business that wants to streamline its contracting process.

3. Receiving Management

Receiving Management is a feature found in PO software that helps manage and track the receipt of goods. This feature allows users to create, manage, and track purchase orders as well as the items received against those purchase orders. Additionally, it can help users identify any discrepancies between what was ordered and what was received.

Receiving Management can also help companies keep track of their inventory levels and reconcile any discrepancies between what is on hand and what was expected. This feature can be especially helpful for businesses that deal with a high volume of inventory or those that have multiple warehouses. By using Receiving Management, businesses can improve their process for receiving goods and avoid any confusion or missed orders.

The functionality of PO software makes receiving management easier by allowing for multiple checks at once without relying heavily on manual labor. It quickly identifies problems with received items so that discrepancies can be handled right away instead of waiting until later when they have time. Additionally, the use of this feature allows businesses to spend less time managing purchase orders and more time on order fulfillment.

4. Invoice Management

Invoice management is an internal business function linked to procurement and is responsible for managing and processing invoice documents from vendors and suppliers. The invoice management process usually involves the following steps: receiving the invoice, extracting invoice information, validating and verifying the invoice information, approving payments, and finally archiving the invoice for future reference.

Invoice management helps companies to process invoices faster and easier. By sorting received invoices into predefined categories, the invoice management feature makes it possible for company employees to process invoices at once instead of doing them separately. Grouping allows not only to place them by name/payment date, but also by the supplier or to any other category that makes sense for a particular company. In addition, the PO software invoice management feature provides specific criteria for approving and rejecting invoices based on predefined rules.

Having an invoice management feature in your PO software is a great way to improve your company's invoicing process. It can help you to save time and money by ensuring that invoices are processed quickly and accurately. Additionally, it can help to improve supplier relationships by providing a fast and easy payment process.

5. Access Management and Granular Roles

Access Management and Granular Roles is a feature in PO software that helps provide security and restrict access to certain areas or data based on the user's role within the organization. It can also help automate the process of granting or denying access to specific users, groups, or systems. This feature is often used in conjunction with authentication methods such as usernames and passwords.

By having full control of this functionality, administrators can set up granular roles within the system for other users. You can think of these as different levels of permissions that determine what activities individuals are allowed to perform on a given application.

One example is when a user logs into the system and they are assigned a role based on their account. That role dictates what tasks or functionality that particular user has access to within the PO software application. If the user's role allows them to edit certain fields, then they can do so without needing any additional permission from an administrator.

Another example is when a user tries to access a file or folder that is not within their assigned scope. In this case, the system will either deny access or prompt the user for additional authentication information. This can help prevent unauthorized users from accessing sensitive data or areas of the system.

The Access Management and Granular Roles feature can be an important part of an organization's security program. It can help augment the existing authentication and authorization processes used by the company.


6. Dashboards (spend, PO in progress, etc)

A centralized dashboard can help streamline and improve the user experience when working with PO software. The dashboard provides an at-a-glance view of all the key objects and their status in the system. It also enables users to quickly navigate to the relevant object and take appropriate action.

The centralized dashboard is an important part of PO software as it allows for better management of projects and tasks. The dashboard gives users a clear understanding of what is happening in the system at any given time. It helps identify potential problems and take corrective action. In addition, the dashboard helps in the efficient utilization of resources as it allows for better management and allocation of tasks.

In a nutshell, a centralized dashboard is an important feature in PO software that enables users to monitor and manage information from different objects or projects alongside each other. Thus, a user can see all object statuses at a glance. As it is updated with the most recent information, the dashboard helps prevent and identify potential problems. Finally, it allows users to make better decisions by providing a comprehensive view of data across different dimensions.

7. Set-up Budget capability

The set-up budget capability in PO software helps organizations manage their spending and allocate resources accordingly. It allows users to establish budgets for specific items or projects, track how actual spending compares against these budgets so that overspending doesn't occur; this ensures the organization stays within a fixed amount of money available while still delivering on all required functions

This is done through providing insight into where every penny goes - helping with transparency when it comes time crunching numbers, forecasting or even taking a step back to see where efficiencies can be made. Alternatively, some organizations might use it as a way of setting ambitious goals and trying to funnel extra cash flow into particular areas to increase overall growth potential.

The beauty of the PO software set-up budget capability is that it's flexible enough to be applied to different types of businesses and industries, as long as they can keep track of spending and ensure that those resources don't go over budget.

The set-up budget capability can also be used to create different versions of a budget, for example, one that is currently running and another which will run next year. This helps organizations plan their spending in advance so they know exactly how much money has been allotted without having any surprises come up along the way!

8. Set-up Multiple Catalogs of Items capability

Set-up Multiple Catalogs of Items capability in PO software helps to speed up the process of creating purchase orders. It allows buyers to create purchase orders for items from different catalogs, without having to switch between tabs or windows. This capability can be especially useful when buyers need to order items from multiple suppliers.

When setting up the Multiple Catalogs of Items, buyers need to decide whether the catalogs will be arranged in a hierarchical order (such as 'Company A - Catalog 1 - Sub-Catalog A', 'Company A - Catalog 1 - Sub-Catalog B', and so on) or will they be displayed in alphanumerical order.

The hierarchical setup, which includes up to 5 levels, is the most common type of setup. When using this type of setup, buyers need to create the main catalog and then add sub-catalogs to it. The sub-catalogs can then be used to order items from specific suppliers or departments within the company.

The alphanumerical setup, which includes an unlimited number of catalogs, is less common. With this type of set up the buyer needs to create a catalog for every supplier or department within the company.

After setting up multiple catalogs in PO software, buyers need to go through the process of defining custom fields and values for every individual catalog. This step can be time-consuming, so PO software usually allows users to import custom fields and values from one catalog to another. It is also common for PO software to provide a predefined set of fields and values, so buyers only need to define those that are missing.

Creating purchase orders with multiple catalogs of items can be a time-saving process, especially when buyers need to order items from multiple suppliers. The set-up Multiple Catalogs of Items capability in PO software allows for a more efficient way of ordering items. It also helps to ensure that buyers have all the information they need, from different suppliers, in one place.

9. Set-up Multiple Locations capability

Set-up Multiple Locations capability is a feature of PO software that enables sales organizations to manage unique pricing and/or processes for individual customer locations.

The Set-up Multiple Locations capability is used to maintain the rules, prices, workflows, etc. that are specific to each customer location or business unit. The end result is that once you set up 'ALL' your customer locations in the PO software, all the necessary information is automatically populated on Purchase Orders (POs) and other sales documents.

This capability can help save time and improve accuracy when creating or processing sales documents since you only need to define the rules/information once - rather than for every customer location. It also helps ensure that the correct pricing and rules are applied when creating each PO.

This capability is often referred to as 'Multi-Location', 'Set-Up Multi-Locations' or simply 'Multiple Locations'.

The Set-up Multiple Locations capability in a PO software offers many benefits, including:

1. Improved accuracy and consistency when creating or processing sales documents;

2. Reduced time needed to define rules/information for each customer location;

3. Centralized management of pricing and process information for all customer locations;

4. Easier management of customer-specific pricing and rules.

10. Set-up Multiple Currencies capability

Set-up Multiple Currencies capability in PO software helps in better management of foreign currency finances. It also allows keeping track of multiple currencies in the organization and their conversion rates. This helps to make better financial decisions for the company.

The multi-currency feature can be used to process payments, receive payments and make bank transfers in different currencies. It is also helpful in creating invoices and doing advanced management of accounts receivable and payable. The multiple currencies feature helps keep track of all financials including those from branches across the country.

The multi-currency capability helps business owners gain better insight into their operation with real-time information about all monetary transactions that are processed through the system. With real-time, up-to-date information it becomes easy for the management to determine everywhere the organization stands financially. This also helps in making better decisions resulting in improved efficiency within the organization. The reporting function lets users create reports based on transactions of any currency and convert them to their desired format or language.

The multi-currency capability can be used to manage and monitor cash flow, budget, and forecast in multiple currencies. In short, the set-up multiple currency capabilities in PO software provides a comprehensive solution to all foreign currency financial needs of an organization.

Why Prokuria is the best PO software for your business?

Why should you choose Prokuria? There are several PO software suppliers available; why should you pick us over others?

Prokuria's PO system is a great choice for any company since it includes all of these features that make the procedure simpler and faster. It's critical to select a system that has all of these characteristics, but if they aren't essential, price should take precedence over quantity when selecting one product among many alternatives.

Prokuria is a firm that provides the most user-friendly and easy-to-use PO software available. With our cutting-edge features and affordable prices, you'll be able to run your business efficiently without any hassles or headaches! The advantages don't stop there; our system also offers outstanding audit and tracking capabilities that help for fast workflow efficiency.

If you want a PO software that will make your work easier, faster, and more effective, then Prokuria is the best choice for you.

Try it free now by creating an account here. There is no credit card required to sign up! If you have questions, you can contact us today and see how easy it is to start using our PO software!


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