Purchase Order Cycle

Procurement is one of the key areas where our clients make an effective cost saving through outsourcing. Have you considered how much you are paying for procurement function from raising a purchase order to invoice payment and reporting to finance and cost centres through human resource cost and time spend which ultimately is not a core activity. Even after spending on this support activity, most of our clients struggled with an effective purchase order and invoicing system with controls and delegations for raising purchase orders and unaccounted payment commitments not know to the company until the suppliers starts chasing payments.

It’s not only cost saving we offer you but also a specialized service which integrates with your cost centre and finance reporting for capturing actual, planning, variance analysis and forecasting. We keep a tightly controlled system for our clients to ensure spend does not exceed your budget and forecast. We start with the supplier quotations and help you raise a purchase order with integration with your payables team and cost centre head for reporting. We ensure the supplier commitments as per contract and invoices only paid once the contractual agreement has been fulfilled. Alongside we keep you updated on periodic basis on the total amount of purchase order raised, amounts spend date wise, remaining spend, work completed etc. Nevertheless we focus on the approval controls as per your company policy for any approvals on purchase order and invoices.

It gets very difficult for companies when you have a large number of recurring payments and small amounts. This involves a lot administration of payments i.e. forms, documents, invoices, transfer acknowledgements etc. No matter if it’s small or large number of daily or weekly payments; we will accurately complete the processing on time along with all the required paper work.