Streamline and automate purchase orders, with your suppliers, in real time
You can realize significant savings, in both time and money, by removing paper and manual handling from your purchase order processes. But, if you issue electronic POs in your ERP, your supplier must have a way to receive them. Cor360 Purchase Order software makes it easy for you to send POs and for suppliers to not only acknowledge them, but instantly turn them into accurate invoices. Automate your purchase orders and remove time-consuming back and forth emails with your suppliers for a more accurate and efficient process.
The importance of purchase orders
If your organization doesn’t currently use purchase orders, it is likely that you may be having difficulty managing employee requests and purchases. Implementing a formal purchase order process will lead to better management of budget and tracking of orders, receipt of product, and payment.
Send fully automated purchase orders to 100% of your suppliers
Now you can maximize the benefits of your ERP and paperless processes while providing suppliers an easy-to-use process for generating and transmitting accurate, electronic invoices, each and every time. Cor360 Purchase Order:
- Integrates directly into your ERP
- Uses your existing PO requisition and approval process
- Transmits electronic purchase orders to 100% of your suppliers
- Provides suppliers with easy online access to view your POs, acknowledge orders, and send advance shipment notices (ASNs) instantly
- Enables suppliers to convert your purchase orders, using the data you provide, into accurate invoices
Convert to electronic invoicing and save hundreds of hours and thousands of dollars per year
You can realize significant savings by removing paper from your process, but sometimes the problem isn’t just paper. Manual processing and the time it takes compounds the problem. When you raise electronic POs in your ERP, your supplier must have a way to receive them. If your buyers have to extract the PO from your ERP and send it to your supplier via email, or your supplier still emails your invoice, you’ve removed paper but not manual processes.
Our e-invoicing solutions let you maximize the benefits of your ERP and paperless processes – while providing suppliers an easy-to-use process for transmitting accurate, electronic invoices. Cor360 Purchase Order means truly electronic purchase orders can be sent to 100% of your suppliers, acknowledged, and converted to an accurate electronic invoice in real-time.
How it works
Cor360 Purchase Order is designed to fit any business, with capabilities and tools customized for creating purchase orders (in either your ERP or Corcentric Approvals Workflow solution), automatic approval routing, and delivering to your suppliers. Your suppliers are provided with an online supplier portal to access your purchase orders, send order acknowledgements, and convert purchase orders into accurate invoices.
Using is easy, efficient, and automatic:
- The Buyer generates a PO in the company’s ERP which instantaneously goes through the Corcentric system and is then immediately sent to the Supplier through the Supplier Portal
- The Supplier acknowledges receipt of the PO and its content
- As soon as the order is fulfilled, the Supplier clicks on “Create Invoice” which flips the PO into an invoice. The Corcentric Supplier Portal will also validate the content of those invoices to match the client’s specific business rules.
- Corcentric then matches the invoice to the original PO and Receipt of Goods
- If during the match, an error is discovered, or the invoice and PO do not match the Receipt of Goods, a message is sent as notification of the discrepancy.
- Once the match is complete, the invoice goes straight-through into the Buyer’s ERP for payment
All of these steps are accomplished with no manual handling or processing, eliminating the possibilities of lost or misplaced paper invoices and mis-key errors which in turn can lead to delayed or incomplete payments. Digitizing and automating the invoice management process results in faster, more accurate payments which Suppliers appreciate; it also results in the ability to capture discounts for early payments, which Buyers appreciate.
So what are the benefits?
Your suppliers have a centralized access to all pending orders and can view status of orders, invoices, and payments at any time
Create PO requisitions or blanket POs and automatically route them for approval
Configured to meet your price, quantity, and freight thresholds, you can trust that your invoices are accurate and meet your compliance policies
With less back and forth, less waiting for acknowledgements, fewer missed emails, and fewer inaccurate invoices, you will significantly reduce the stress and strain on your buyers, sellers, and supply chain overall