Electronic Purchase Order Software & Purchase to Pay Solutions
Maintain tighter control over the entire payable process from requisition to payment
By deploying an Electronic Purchase Order Requisition system, in concert with an Accounts Payable automation solution, internal control over expenses, payables, disbursements, and suppliers can be enhanced. Going electronic allows for a much more efficient payable process by eliminating many of the manual tasks generally associated with purchase order requisition. COR360's PO Requisition System gives companies the benefits of an electronic purchase order automation system without the capital expense of implementation. This cost-effective, SaaS-based solution incorporates built-in best practices and customizable business rules.
Why Implement a PO Requisition System
COR360 users have gained significant savings and efficiencies for processing and approving invoices. Now those same benefits can be experienced on the PO requisition side. COR360’s PO requisition system extends Accounts Payable automation to include
PO requisition approval, PO creation, and electronic submission to suppliers.
How the Electronic Purchase Order Requisition System Works
COR360’s PO Requisition technology enables you to generate POs and route them online for approval using Smart Routing technology. Upon approval, POs can be electronically invoiced from suppliers directly from COR360 for an efficient paperless
process. Automated matching occurs between the PO and the invoice when it arrives to validate price, quantity, line amount and items ordered. All invoices matched will be tracked against the PO until the PO is closed to account for blanket POs or
partial payment against a PO. Matching rules can be configured for further control to ensure that invoices are properly matched to POs based on your existing business rules. Additionally, tolerances can be applied for the entire PO or down to the
Automated matching occurs between the PO and the invoice when it arrives. All invoices will be tracked against the PO in the case of a blanket PO or partial payment against a PO. Matching rules can be used for further control to ensure that invoices are properly matched to POs. Additionally tolerances can be applied for the entire PO or any detail down to the line item.
Key Benefits of Purchase to Pay Software
Enjoy the benefits of integrating COR360’s electronic purchase order software with your AP workflow system. Our purchase to pay solutions provide the benefit of only having to maintain a single source for your delegation of authority process
and common routing rules. Users, groups, and roles are maintained in one place as well as their respective routing hierarchies and approval limits. Your purchase requisitioners and Accounts Payable users are now communicating in a single
system, which provides for ease of routing for discrepancies if invoices do not match to the purchase order. COR360’s electronic purchase order software:
- Streamlines the approval process
- Increases control over expenses, payables and disbursements
- Rectifies discrepancies faster