Purchase Order Software
If you are a small business owner, purchase order software (PO software) is an indispensable tool for your trade.
A purchase order refers to an official record that a buyer issues to the seller for the purchase of specific goods and services and committing to pay when the said goods and services are delivered in the future. A purchase order software or a purchase order management software is an online service that integrates all steps involved in generating a purchase order and allows companies to buy and pay for goods digitally. Use myBillBook billing software to generate purchase orders.
Streamline the purchase order process
The purchase order process is essential to every business that procures goods from a vendor.
Here are the steps to a well-defined and streamlined purchase order process:
- Identification of the business need that calls for procurement
- Evaluation and selection of a vendor/supplier
- Contract negotiation with the selected vendor/supplier
- Approving the purchase requisition
- Creation of a purchase order and sending it to the vendor/supplier
- Receiving the invoice (with a PO number) from the vendor/supplier
- Receipt and audit of the delivered goods
- Completion of the payment within the time specified in the contract
- Maintaining records of the transaction
Smart PO document storage
Going through the entire purchase order lifecycle can be super tedious if done manually. But a purchase order management software can streamline it in no time!
Small businesses often try to save on money by doing most of the essential tasks such as accounting and invoicing manually. While it is quite an economical strategy, manual data entry and storage may result in errors that can lead to severe consequences.
A purchase order management software is a smart way to store, manage, and monitor all your purchase order documents in one place. It not only eliminates manual errors but also accelerates processing times.
Integrate with your current software
Already using ERP software? No worries! You can easily integrate the purchase order management software with your current one.
A lot of businesses use enterprise resource planning (ERP) software to manage critical business activities such as project management, procurement, accounting, etc. The best part about a purchase order software is that you can either use it as an independent purchase order management software or choose to merge it with the ERP software you are presently using.
Why is PO software useful for every industry?
Are you running a small or medium business but still not aware of purchase order software? It’s high time you realize the importance of PO software.
Regardless of the industry, small and medium businesses can benefit immensely from using purchase order software. Here’s how:
- It provides a permanent reference document of each purchase you make.
- It is a formal system that ensures your purchases are orderly and budget-compliant.
- Purchase order software is an efficient tool for tracking expenses, validating delivery reports, and eliminating errors.
Benefits of using myBillBook purchase order software
Are you looking for the best purchase order management software? Choosing myBillBook is a good call when you are looking to optimise your purchase order process.
myBillBook is an integrated platform for all your business needs. From billing and invoicing to managing accounts and generating business reports, myBillBook is an all-in-one package.
Creating purchase orders with myBillBook is fast and convenient. Take a look at the benefits of using myBillBook purchase order software:
- Safe and secure (ISO 27001 certified)
myBillBook is a completely safe and secure platform. It makes use of the latest encryption technology to store user data.
- Mobile and desktop-friendly
The myBillBook mobile application is available for free on Google Playstore along with a user-friendly desktop app. Switch between devices with auto data sync between your smartphone and computer.
- Smooth data transfer
Seamless data transfer from other software is one of the best features of myBillBook. You will get the option to transfer your items and clients from other software such as Tally and Vyapaar.
- Auto backup
With myBillBook purchase order software, you can forget to worry about losing your financial and client data. The automatic backup feature backs up all your data to the cloud.
- Language support
Keeping in mind the needs of Indian users, myBillBook is available not only in English but also in Hindi and Hinglish. More language additions are on the way!
- Customer support
If you ever face issues with the software, myBillBook’s customer support team is just a click away with a superfast response time.
Advantages of using the purchase order software
Are you still wondering why to use purchase order software? We’ll tell you why:
- It saves a lot of time otherwise spent on manual data entries and processing.
- It controls the purchase-to-pay process by integrating all relevant purchase information in one place.
- It makes updating purchase-related information is easier, greatly improving the purchase order data.
- It allows real-time control over budget and expenses.
- The security measures and backup features of a purchase order software ensure that your valuable data is protected.
- Accessing past data is easier with the searchable digital archive of a purchase order software
- It creates a centralised system free of manual interference and errors.