Looking to transform your procurement team’s purchase order process? Read on to learn 6 ways PO collaboration can improve your company’s ability to manage risk, drive collaboration, and impact your bottom line.
Since 2015, SourceDay has been disrupting the world of direct-spend procurement with cloud solutions for manual Purchase Order, Accounts Payable, Request For Quote, and Quality Control processes. Our mission is to help manufacturers and suppliers remove waste and inefficiencies from their supply chains. Here are just a few of the benefits of transforming your PO process.
1. Work Smarter
By automating day to day tasks like tracking open orders or updating PO lines, procurement teams can spend more time on strategic planning. Instead of spending time tracking all POs, you can devote more time to working with suppliers and problem solving specific PO issues.
2. Mobile PO Management
Push notifications for acknowledgments and alerts for late orders allow buyers to easily manage POs while on the go. Quickly find PO updates and browse all communication between buyers and sellers organized in a single dashboard.
3. Avoid Costly PO Errors
Avoid costly data entry errors on POs. Suppliers can import data directly from SourceDay into their system without manual entry. All PO updates are automatically transmitted back to your ERP in real-time so you can always operate with 100% accurate data.
4. Improve Delivery Times
Every time a supplier makes a change, such as a due date, the buyer has the option to approve or reject the change. With accurate data and improved communication, you can do a better job forecasting deliveries.
5. Master the Art of Inventory Management
The supplier PO dashboard mirrors the buyer’s view keeping your supply chain in sync with your business requirements. Anticipating the market’s need and only ordering what is required to do business helps keeps your overhead low. Streamlining inventory management means higher profit margins and less risk.
6. Make Better Business Decisions
Data is the cornerstone of sound business decision-making. Having access to real-time data can help with decision making and avoiding costly mistakes.