Trusted purchase order management software can reduce administrative costs, promote accountability, improve communication and asset oversight, and help your organization to scale efficiently and effectually. CobbleStone Software’s Contract Insight can help you to make better purchasing decisions with comprehensive asset lifecycle management.
Purchase Order Workflow
Establishing a system with which you manage purchase orders is instrumental in complying with your organization’s budget, saving money, and streamlining the purchasing process. As such, below is an expeditious, effective method that you can employ as a Contract Insight user.
- Set spending thresholds: If you are a software administrator, you can set spending thresholds for individual users, and review reports regarding the spending habits of employees.
- Create a purchase order: Add a new purchase order record in Contract Insight, and then enter important purchase order information into your system’s configurable fields.
- Add relevant line items: Simply add items from your organization’s approved catalog or add one-off item.
- Author purchase order: Easily merge your purchase order document and your organization’s letterhead with an approved template and terms within your system.
- Send a new document: Your new purchase order document can be emailed directly to vendors or posted to your vendor gateway.
- Compare purchase order amount: Compare the purchase order’s total amount against the budget for your purchase order contract record.
- Track receivables: Confirm that your purchase order matches up with the items that have been received.
Purchase Order Process Implementation
CobbleStone’s purchase order management software module is user-friendly and convenient by nature of its integration with the rest of your system. Contract Insight is a unified requisition-to-contract suite, and this applies to asset tracking and purchase order management.
Contract Insight allows your organization to sync a contract’s budget with a corresponding purchase order record. This tie-in unifies the purchasing process and provides more transparency. As users add line items to a purchase order record, the total purchase order amount will change accordingly. In turn, the system provides your organization with the percentage of your contract budget that a given purchase order represents. With this useful functionality, your organization can easily compare actual purchases to the terms defined in a contract. Therefore, budget, contract terms, and user activity are accounted for.
In the purchase order module, Contract Insight system administrators can set spending thresholds for individual requesters and approvers. With this feature, admins can see what percentage of a contract’s budget their employees have used, as well as precisely what they’ve spent the budget on. System administrators can have governance over employee spending permissions within your system. Once an employee reaches their budget limit, they are no longer able to add/approve purchase orders. Thus, your organization can decrease unnecessary spending.
A Streamlined Purchase Process
CobbleStone also offers useful tools for supplier purchasing, order management, and streamlined purchase order consolidation and duplication. Contract Insight’s Punchout Integration makes requests and fulfillment easy. Users select products from leading suppliers using vendor web catalogs. The system’s Shopping Cart module allows authorized users to create Shopping Cart purchase orders and requests. With easy item catalog creation, simple transfer of line items from a contract into a catalog replaces the need for monotonous data entry. From a visual standpoint, Contract Insight users can browse catalogs with eye-grabbing images of items as they scroll!
Contract Insight users can set up flexible purchase requests and request processes. They can create their document templates to be generated with purchase orders. They can easily email a prepared purchase order document to a counterparty or vendor right from Contract Insight. With flexible features, the streamlined purchasing process offered by CobblesStone Software can easily align with your needs.
Revolutionize Purchase Orders with CobbleStone Software
CobbleStone Software revolutionizes your purchasing process with:
- requests and templated term creation.
- the tracking of order amounts against contract record budgets.
- reduced data entry and purchase order consolidation.
- asset transparency with a easy view of orders and where they are located.
- visibility into request details, including requestor, request status, line items, and vendor information.
- expedited purchase orders, as well as the easy viewing of quantities received, assets on purchase orders, and approvals.
- easy tracking of asset receipt dates, locations, and shrinkage.
- inventory management for replenishment need visibility and the reduction of unneeded purchases.
CobbleStone Software’s Contract Insight is an award-winning, secure, and cloud-based source-to-contract platform that transforms contract management, purchase requisition, procurement, and sourcing. Since 1995, CobbleStone has been acclaimed by organizations of a variety of industries as the leader in contract management solutions. Purchase orders have never been easier with Contract Insight. Learn more about the Contract Insight Purchase Order module and licensing with a free demo today!