Equally important is when a business needs a system to control costs and the most core part that generates costs is procurement: including all activities related to business operations such as goods, materials, etc. investment, services, .... Or it can be expanded to manage expenses.
Failure to closely monitor the purchasing process, lax management, and lack of information lead to delays in coordinating goods for production and business, poor quality suppliers but no replacement, or excess purchases or There is too little, there is no annual monitoring and evaluation of purchasing activities, the contact points are focused on a few personnel, leading to passivity in work coordination, etc.
Building an annual budget will help the company predict operating cash flow. To build a budget, it is necessary to detail the year's goals, regular amounts, expected new investments and reserves. arise based on the direction of the Board of Directors.
9 Benefits of applying purchasing system
- Optimize purchasing costs when data is digitized and purchase history, order status, work in progress, etc. can be traced.
- The work of the employee in charge does not overlap, the order of the person in charge is delivered directly to the system. Increase work performance and clear evaluation criteria for each person.
- Check information and quickly approve on the system for managers and leaders, review each level according to the process to ensure the right level of authority.
- Export PO from the system, automatically send email to supplier after order is successfully approved, integrate digital signature to ensure replacement of current paper PO.
- Detailed budget for each cost item, item, and service, thereby controlling the level of budget over/under.
- Monitor, manage and evaluate suppliers based on established criteria to ensure selection of reputable and quality suppliers.
- Remind the work that needs to be done continuously until the task is completed, so you don't forget unfinished tasks.
- Follow the process from purchasing request to payment, liquidating contracts with suppliers, note each interaction on the system, update the situation, attach documents, ensure the most complete information , avoid wasting time asking back and forth between departments.
- Summary report on purchase status, easily track order progress and retrieve records quickly.
