PURCHASE TO PAY
Control procurement with a simple purchase to pay system solution that automates regulatory compliance. Improve your purchase order management process with procurement tools like PO matching, improved invoice automation, and an intuitive delivery management system that includes inventory distribution.
Structure your credit union’s purchasing with a flexible approval workflow system, and complete purchase orders from a convenient item master database. Automatically document procurement records to create custom spend analysis reports effortlessly.
See the the steps below to learn more.
Requisition
Approve
Purchase
Receive
Payable
Document
ePayment
Requisition
Requisition
A flexible purchase requisition system to control procurement in your company.
- Employees can submit their needs through cuSPEND’s purchase requisition system. Purchase requisition forms can be completed by selecting goods and services from the item master database, or adding external items depending on their requirements.
- Purchase requisition forms can clarify details like delivery addresses and item specifications to simplify the order receiving process. cuSPEND’s delivery management system can be used to track received orders and facilitate effective inventory distribution management.
- cuSPEND’s cloud based purchasing software allows requisition forms to be created from any device including phones, tablets, and computers. It’s the perfect way to remove bottlenecks from the P2P process while maintaining spend control.
- All of your company’s purchase requisition forms can be searched, filtered, and reviewed. Multiple requisitions can be placed on a single purchase order, increasing cost savings and saving time by improving internal economies of scale.
Approve
Approve
Set up a procurement approval workflow system for any part of the software.
- Configure detailed approval workflows for each of your branches, departments and projects. Approve every step of the procurement process, including purchase requisition forms, purchase order forms, and invoices due for payment.
- Using Smart Catalogs users only see products and services approved for their view and can only request them in the quantity and frequency approved for them or their workgroup all subject to their personal expense limit if desired.
- Maintain cost control by setting price thresholds to trigger approval requirements. Specific categories of goods and services can also activate procurement approvals during the purchasing process.
- Before granting approvals, approvers can review the budget planner tool to verify that purchases align with estimated expenditures. Perform flexible budget management on anything, from the entire company to cost analysis for a project.
- Optimize procurement collaboration with the ability to add comments on each step in the approval workflow system. Documented procurement records will include notes left by employees on every step of a transaction.
Purchase
Purchase
Create PO’s with simple purchase order software built for diverse situations.
- cuSPEND’s simple purchase order management system includes the ability to create flexible purchase order forms. Include your company’s logo, automated PO numbers, and other personalized fields to create custom purchase order templates.
- Purchase order forms can be duplicated, external files attached, and PDF versions downloaded for optimal purchasing management. Improve the order receiving process by requesting supplier confirmation whenever you send them a purchase order form.
- Track and control procurement internally. cuPSEND can optionally be used without sending purchase orders to suppliers, depending on your requirements. External transactions and one-time expenses can be documented to create a centralized expenses system for your team.
Receive
Receive
Track your order receiving process with a delivery management system.
- Book-in purchased items with an intuitive color-coded delivery management system and add notes about any received order discrepancies for clear procurement collaboration. The order receiving process can be split into multiple deliveries, allowing flexible delivery management plans to be carried out.
- For convenience, inventory distribution management can be handled during the order receiving process. Keep track of the purchased items you receive across all of your inventory distribution locations.
- Maintain an effective supplier communication plan by giving your suppliers the option to include delivery notes with their shipments. Request documents such as delivery notes, packing lists, shipping bills and more.
Payable
Payable
Improve invoice automation with automatic 2-way, 3-way and even 4-way match invoice processing.
- Automatic matching is a process performed for goods and services ordered through a purchase order that takes place during the online invoice approval process. Invoices are matched to purchase orders (2 way matching), receiving information (3 way matching), and inspection information (4 way matching) as applicable. The invoices must meet matching tolerances or a hold is placed on the invoice and payment cannot be made until the hold is resolved or manually released.
- Invoices are made easy with automated matching. Purchase order forms, delivery notes, and invoices due for payment are all linked for simplified procurement record keeping and increased invoice automation.
- cuPSEND’s approval workflow system includes the ability to approve invoices for payment. Receive invoice reminders before approving or rejecting outstanding invoices. Review a history of your invoice records at anytime.
- Maintain perfect synchronicity between invoices and accounts payable by verifying what was originally ordered and what was delivered during the order receiving process.
Document
Document
Sustain peace of mind with automated procurement record keeping.
- The record to report process, commonly abbreviated as R2R, can be largely automated with cuSPEND’s spend analysis reports. Filter information from any part of the procure to pay process to generate custom spend analysis reports.
- Sustain peace of mind with automated, real-time procurement record keeping. Every aspect of the purchasing process is recorded, including details like external file attachments and notes from procurement collaboration.
- The item master database contains information on the history of all purchased items. Review this data at any time to perform cost forecasting and cost benefit ratio assessments.
ePayment
Optionally, you may choose to pay vendors electronically via ACH.
Optional Service
- Vendors can be paid via ACH which is often a very useful negotiating tool for better pricing.
- Employees can be reimbursed for expenses via ACH without the need to involve your payroll team.