Web Based Purchase Cycle Management

Through its Web based purchase order system, TrackerSuite.Net automates, streamlines and secures the purchase cycle.

The purchase cycle contains several steps: the creation of a request, its approval, management of the approved purchase order and finally reconciliation of the purchase order, which includes the reception of the product or service procured, and vendor payment.

The issues that organizations often face within the purchase cycle include:

• Difficulties in the request process itself, such as an informal process which is hard to track and does not lend itself to reporting, or a request process that is complicated, leading to delays in filing or sometimes the need to re-file after correcting form errors.
• Difficulties in the approval cycle, in terms of workflow and / or security.
  • A slow approval process - a typical problem of paper-based purchasing processes, that prevents needed items from being procured in a timely fashion.
  • A process that lacks flexibility, that can be thrown off with the absence of a designated approver, triggering delays.
  • Security concerns, ensuring that every approved purchase order that arrives for processing has been properly approved, with a trail of responsibility.
• For organizations relying on a paper based purchase cycle process, filing can be difficult, creating difficulties in retrieving information or developing meaningful reports.

TrackerSuite.Net is an integrated suite of Web based business applications, including a Web based purchase order system, Purchase Tracker.Net. Utilizing Purchase Tracker.Net, organizations can automate, streamline and secure their management of the purchase cycle over the Web.

Following is an overview of how TrackerSuite.Net facilitates each step of purchase cycle management.

Step #1: Submitting Purchase Requests

From the start of the purchasing cycle, TrackerSuite.Net simplifies the request process with Web based PO forms that are comprehensive, but easy to complete. Validation rules ensure that the form is filled out completely before it can be submitted for review. Users are not limited as they are in paper based processes, they can submit the purchase request from any location via their browser or even within their email client. Purchase Tracker.Net supports the localization of purchase requests, including dates and numbers.

Step #2: Approving Purchase Requests

TrackerSuite.Net provides features that streamline and secure the approval phase of the purchase lifecycle. First, purchases are automatically routed based on designated approvers, spending limits and department rules. Second, an activity log captures time and date-stamped electronic signatures of all parties that interact with the form, from creation, through approval and final processing. Even after the purchase order has been processed, Purchase Tracker.Net provides a change order function for the secure editing of forms.

Step #3: Managing Purchase Orders

TrackerSuite.Net provides an array of views and tools for tracking and managing purchase orders in the system, including dashboard views and intuitive In Box/ Out Boxes for Accounting to managing approved purchase orders. Purchase Tracker.Net also provides an "Aging" column in Accounting views that show how long purchase orders have been in the system.

Step #4: Reconciliation

Using Purchase Tracker.Net, organizations can simplify the vendor payment step of the purchase cycle. Purchase Tracker.Net also integrates with a Web based reporting engine, the Tracker Data Warehouse, generating reports including Purchase Lists, Requested/ Ordered/ Paid Amount, and of purchases submitted, ordered, received and paid for by vendor, requester, department, cost center or project. Through Crystal Reports, Purchase Tracker.Net produces reports including Accounting Details, Purchase Summary, Order Details and Vendor Statements.

For More Information

For more information about TrackerSuite.Net and its ability to facilitate purchase cycle management, please contact Automation Centre today at (520) 882-9287, or email Info@Acentre.com.

Automation Centre is also pleased to offer a free demo of TrackerSuite.Net, which includes its applications for project management, time and expense reporting, purchasing, payment requests, personnel management, support services and more. Interested parties may register for immediate access to an evaluation site to make a hands-on evaluation of TrackerSuite.Net for their needs.