Chrome River Purchase Order

Pre-purchase authorization routing and approval processing

• Purchase order request creation. This electronic record has a configurable entry screen where, in addition to PO header and line item data entry screens, a corresponding image and notes can be added.
• Purchase order routing. The PO request is routed where appropriate based on powerful and flexibly configured purchase order routing rules. Approvers can add additional approvers during the process and the PO can be easily returned for additional information. PO routing rules can be based on any data attribute of the PO record (e.g., vendor, GL / allocation date, amount, etc.). Notifications are sent to approvers who can approve/reject the purchase order directly from the email notification or login to the application and approve/reject online.
• Purchase order approval. After all expense compliance and approval routing rules have been successfully met, the request is converted to an approved PO that can be emailed to a supplier along with its unique, system-generated PO number.
• Invoice receipt processing. Upon receipt of the invoice, Chrome River INVOICE allows the user to look up the referenced PO and directly copy all of the open header and line item amounts and data into the invoice record from the PO. The invoice record amounts may also be updated per the actual invoiced amounts.
• Invoice approval processing. When the invoice is submitted for approval, invoiced amounts are compared and matched to the approved PO amounts. Invoices within matching tolerances can be routed to a receiver to affect a three-way match and invoices outside of matching tolerances can be routed to an invoice exception processor to address the PO-invoice mismatch. This function is managed seamlessly through INVOICE where additional invoice approval workflow processes can be added as well.

Purchase order visibility and analytics

• Purchase order application. PO approved amounts and consumed amounts are maintained by Chrome River allowing multiple invoices to reference the same purchase order record.
• Purchase order visibility. A separate Purchase Order Management module is provided to specified finance and procurement users to view and manage POs maintained in the system.
• Spend analytics. Through Chrome River ANALYTICS, the finance team can perform detailed spend analysis across PO and invoice records to help manage costs.

PO amendments, electronic transmittal, templates, export

• Approved purchase order amendments. Based on your organization’s configured policies, the PO can be amended and the revised PO can be routed for approval.
• Electronic transmittal of purchase orders. Your organization can directly transmit approved purchase order documents to suppliers.
• Purchase order templates. PO “templates” can be created that can be used to create PO requests with common line items and allocations.
• Track and maintain receiving records. Users can input and maintain receiving data directly against POs created in Chrome River, providing greater matching functionality.
• Purchase order export. Approved PO data can be exported to third-party systems.

PURCHASE ORDER is an integral component in the PURCHASE ORDER to CAPTURE to INVOICE to PAYMENTS automated invoice management workflow. This paperless solution streamlines your accounts payable department, strips out manual processes, and ensures that your company receives all the benefits and discounts from vendor negotiations. And the bonus is that the paperless process almost pays for itself.

Contact us today to find out how easy it is to start enjoying cost savings on your purchase order workflow and whole invoice processing workflow. Chrome River INVOICE and PURCHASE ORDER lets business flow.