Simplify your Procurement Procedures
Posted on 18 December 2014
Procurement challenges faced by businesses
Procurement has become an integral part of corporate performance for any business. If your business purchases goods or services then you need to ensure that you have effective procurement procedures set up in order to make sure that all your acquisitions run as smoothly as possible.
One of the main challenges is that procurement can be complicated and these complications can become a burden on both time and budget - which is why a procurement process is important.
The purpose of a procurement procedure is threefold:
• To save time
• To ensure you pay the right price
• To ensure everything is transparent and you don’t overlook vital steps
Whatever stage of the buying cycle you’re at, it’s important to build in all the necessary controls to ensure purchases are made within budget, relevant stock updates are made and payments are in-line with specific routines.
Access Dimensions provides a structured workflow for the entire procurement process, from purchase requests to payment, allowing you to streamline credit management meaning improved efficiency overall and lower admin time.
With Access Dimensions you can ensure that you have more control over your purchase life cycle and get access to detailed supplier information and purchase analysis.
How to use Access Dimensions to improve your procurement processes.
By monitoring your creditors through a purchase ledger you’ll get access to detailed supplier information and full, flexible purchase analysis meaning you can review and analyse supplier performance at the most detailed level.
Capture all the information required by your business. Purchase requests can be consolidated by your purchasing manager, with rules ensuring you do not accept pre-set limits and allowing your staff to identify key elements such as ‘preferred supplier’.
The Access Purchase Control module gives you extra control of your purchasing process. Purchase requests will automatically be checked against pre-set budgets. If pre-set rules are not met then Access Dimensions will activate an alternative workflow.
Effectively managing purchase orders is a vital component to any successful business. Speed up the entry of new purchase orders using Access Dimensions. Once created, an electronic copy can automatically be sent to your supplier directly from the system.
Add further security to your processes by registering all invoices that come in to your business. Eliminate any risk of unauthorised payments by aligning quantities with what has actually been delivered.
Designated workflow ensures that invoices are verified correctly meaning additional paper trails are not needed and integrated alerts and notifications keep the process on track – making individuals aware of any areas of work that need input.
Suggestions for payment
If necessary, invoices can be set to be signed off through two levels before being sent off for payment. Remittance advance notes, cheques and BACS payments are all automatic and you can handle advance and partial payments with ease.
Getting the challenges of procurement right
Sourcing from multiple sellers and multiple regions adds complexity to procurement. Getting this procurement challenge right will make a huge difference to corporate cost efficiency and productivity.
Improve your procurement process with Access Accounting, an award-winning software suite approved by industry professionals designed to cut costs and aid decision making. Combine this with award winning customer support from Enhanced and you’ll quickly find your business’s admin time and efficiency is lowered. For further information or to organise a demonstration, please contact one of our Access Accounting experts at Enhanced.