Purchase Order Software, Made Easy

Purchase order software (PO software) helps businesses easily generate POs, develop a streamlined and efficient approval process, track order statuses and stay up to date on delivery estimates, and improve supplier management—without ever needing another spreadsheet.

The goal of a purchase order system (po system) is to create and execute an order seamlessly. The PO process begins when a buyer creates a purchase order request. Once the request is approved, the order is submitted to the supplier. The supplier will fulfill the order and send the buyer an invoice. The process is complete once the buyer pays the supplier. Purchase order systems will automate several steps in that process to expedite the buying process, add more controls, and increase spend visibility.

There are several best practices for automating your purchase order management system.

1. Automated approvals allow you to automatically route purchase requests to the right people and avoid bottlenecks in the approval process.
2. PO software enables real-time order tracking, which can improve delivery outcomes and aid in inventory management.
3. Data centralization is key to automated PO systems. No need to dig through paperwork in search of order, supplier, and payment information.
4. Reporting is another major piece of an automated order system, giving your team the quick access to spend, order, and vendor insights.

Purchase order systems (PO systems) are beneficial because they help businesses save time, save money, and gain clarity about their spending habits. More specifically, the main benefits of implementing a PO system include:

• Easily tracking the status of your orders — from approval to processing to delivery
• Avoiding challenges with audits because all of your orders and invoices are in one central location
• Speeding up the purchasing process with automatically generated POs and faster approvals
• Controlling and track spending in real-time
• Decreasing manual errors like duplicate payments or duplicate orders
• Paying your vendors on time without having to cut checks or chase signatures

The key features of a purchase order platform include: automatic PO generation, rule-based approvals, budgets & reporting, order tracking, and creating audit trails.