Gain Confidence in Your Procurement Process
Chrome River offers an intuitive, yet powerful PURCHASE ORDER module fully integrated with Chrome River INVOICE in one digital platform to provide purchase requisition creation, routing and approval capabilities. Once approved, these requisitions are converted into purchase orders that can be issued to your suppliers and subsequently used in the invoice matching process to ensure you only pay for goods and services ordered and received.
Peace of Mind With Pre-Purchase Authorisation
Leverage the PURCHASE ORDER module to create purchase requisitions for pre-purchase authorisation and ultimately, for approval and conversion into purchase orders. As an addition to Chrome River INVOICE, PURCHASE ORDER allows you to rest easy knowing your end users are creating requisitions and purchase orders in one digital platform with an elegant and intuitive user experience on their device of choice. PURCHASE ORDER offers a configurable entry screen for entering requisition header and line item detail. Attach supporting documentation and add notes for a complete request.
Approval Processing Made Easy
Once created, the purchase requisition is routed according to flexible and configurable routing rules defined to meet your business needs. Routing rules can be created based on any attribute of the purchase requisition record such as vendor, accounting data, date, amount, what is being requisitioned, etc. Notifications are sent to approvers who can review, approve, reject or return a purchase requisition for correction. Approvers can easily add additional ad hoc approvers during the process if additional review is needed.
Approving requisitions and their associated documents in Chrome River is simple and consistent across modules with notifications and review capabilities right from your email. A single intuitive user experience for approvers across devices and applications provides simplicity to ease user adoption and remove the need for additional training.
Control and Compliance in Purchasing
We understand that you may have complex purchasing policies. Different types of purchase requisitions may require additional explanation, details, and approvals depending on spend threshold or category. Chrome River’s embedded business rules engine allows you to configure business rules to ensure your policies are enforced. Combined with the approval workflow, you can be sure that when your requisitions are converted to purchase orders, they are complete, correct and ready to be sent to the vendor.
Obtain the Perfect Match
When invoices are subsequently sent to you by your suppliers, you want to be sure you are paying for exactly what was ordered and received. Approved purchase orders created in Chrome River PURCHASE ORDER are matched when the invoice is received and processed in Chrome River INVOICE. Invoice header and line item detail are extracted from the invoice image via OCR VISION and copied into the invoice record.
Invoiced amounts, unit prices, extended prices, and quantities are compared and matched to approved purchase order amounts. Invoices that do not match (either exactly, or within customer-specific matching tolerances) can be routed within the system to the appropriate party such as Purchasing, Receiving, or a Requester to resolve any two-way or three-way matching exceptions.
Spend Visibility and Analytics
You need the power to make data driven business decisions and negotiate better contracts with your suppliers. Through Chrome River ANALYTICS, the procurement and finance teams can perform detailed spend analysis across purchase order and invoice records to help manage costs and ensure your organisation receives the maximum benefits and discounts from your vendor negotiations.
Chrome River PURCHASE ORDER provides visibility into your procurement business process flows by automating the creation of purchase requisitions which not only creates significant cost and time savings over manual processes, but it gives your organisation visibility into where the requisition sits in the workflow and how much committed spend your organisation has made via purchase orders. This is insight you simply don’t have when paper is sitting on someone’s desk. Contact us today to let business flow with Chrome River.
- Easily create purchase requisitions and route for approval
- Ensure policy compliance with embedded business rules engine
- Convert purchase requests into approved purchase orders
- Transmit approved purchase orders to suppliers
- Integrate your AP and Procurement functions in a single, easy to use platform
- Leverage ANALYTICS to gain insights into spend data
Overall, the PO functionality made approval, tracking, and visibility of expenses more seamless and accurate. We migrated from tracking hardcopies to focusing on valued-added activities that we wouldn’t otherwise.