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As you might expect, the PO module is the heart of any purchase order software. Surprisingly, many companies simply don’t use purchase orders.We believe this is a fundamental error in business practice. The lack of using purchase orders allow opportunities for misunderstandings to take place between buyer and seller.
A correctly formatted and approved purchase order document assures that you are not open to misuse and maverick buying. In other words, purchase orders curtail people picking up the phone to place an unapproved order with a supplier.
Having a properly constructed purchase order system allows you as the buyer to explicitly state what you wish to buy, at what price, and under what terms.
It may also specify your policies on the acceptance of the goods/services and your policies on rejects and returns. This is crucial information that both parties to the transaction should be aware of prior to entering into the transaction. This eases the payment of the eventual invoice.
A centralized control point not only helps curtail unwanted or unapproved spending but also assists in seeing the overall spend through management reports.
One requisition can generate multiple orders
Multi-currency
Explicitly specify delivery, payment and invoice instructions
Multiple account codes with split financial allocations
Multi-level signoffs and approvals based on role
Supports internal catalogs, free text and vendor punchout as standard
Allows for personalized PO formats with logos and scanned signatures
Fully details all terms and conditions of purchase
Controlled change management with audit trails
A Purchase order document allows for easier auditability, traceability and most importantly accountability. If you are a publicly traded company then you will be aware of Sarbanes-Oxley (SOX) compliance measures. Furthermore, we have internal systems in place with our platform that empower buyers to trace any errors on their POs to the suppliers before the suppliers are aware of such errors. This allows the Approvers to only approve valid requests that they know are within budget.
Such enforcement of personal accountability within your organization ensures visibility of the process from request initiation to final payment of the invoice – this is important if you wish to implement best practices within your organization. Eyvo’s eBuyerAssist cloud-based purchase order software system can do exactly that – putting you in control of your spend and ensuring vendor compliance with all your transactions.
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Purchase Order (PO) Management Software assists in creating, tracking, and managing purchase orders. It allows organizations to automate, document, and consolidate procurement-related activities, thus enhancing purchasing.
Eyvo’s digital PO management software can digitize, streamline, and automate purchasing processes, including creating, managing, and tracking POs. Our software enables your business to effortlessly handle procurement tasks, ensuring transparency, accuracy, and compliance with your internal policies.
Yes, we do. You can monitor the status of your POs in real time, and you get visibility into key details such as approvals, order fulfillment, etc. This ensures transparency across the procurement lifecycle.
Yes, you can. You can approve or reject orders through Eyvo’s Mobile App, Microsoft Teams, and Slack as well. This way, important orders that need immediate attention can be approved on time - even when users are away from their desks.
Yes, we can. Our cloud-based procurement software easily integrates with third-party accounting software like QuickBooks, Xero, Sage Accounting, Chromeriver, etc. We also provide Open APIs which can help 3rd party applications to access the Eyvo application.
Yes, absolutely! One of our core strengths is making our software fit your unique needs. You can read more about how we can customize for you by clicking the link here.
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