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How Purchase Order Automation Works
Using intelligent automation (IA), purchase order automation expedites the creation, approval and processing of purchase orders (POs) within an organization so you can get your goods or services to your customers sooner. IA reduces the strain of paper-heavy manual tasks on your accounts payable and finance team, which improves accuracy by reducing error-prone data entry processes. And that digital support makes work better for your accounting team.
All the Things IA Can Do
Robotic process automation (RPA), artificial intelligence (AI), machine learning (ML) and business process management (BPM) are all components of IA, designed to streamline your operations, connect disparate ERP systems and boost productivity. It can do this through various finance and accounting processes, including invoices, accounts payable, accounts receivable and many other back-office tasks.
Manual Processing
Traditionally, purchase order entry was a paper-heavy process involving multiple steps, all of which could be vulnerable to human error. The entire process is inefficient and leaves an organization at risk due to its lack of visibility, regulations or process controls. Plus, this work can be incredibly time-consuming for your critical accounting staff, who could be used elsewhere for higher-value activities.
Purchasing Process Automation Successes
Customer Story: Automated Source-to-Pay
Implement Your Automated Purchase Order System
Top Benefits of Purchase Order Automation
Increase process efficiency
An automated procurement process decreases processing times. IA eliminates manual tasks and ensures a process is followed to the letter based on the business rules it’s fed. Processing purchase requisitions and orders manually can result in duplication and human error. IA moves your work to real-time processing without delays.
Boost customer satisfaction
Take customer service to the next level with faster delivery times thanks to less time waiting between processing and fulfilling orders. Give your customers more personalized products or services with automated, real-time tracking, order confirmations, shipping notifications and follow-ups.
Decrease processing times
IA helps reduce process complexities, saving time for your procurement professionals to focus on higher-value activities such as supplier relationship management, strategic sourcing and cost savings. Automate back-office tasks and approval workflows to speed up cycle times and increase productivity.
Improve accuracy
Purchase orders are binding legal contracts between buyers and sellers, so they must be accurate and consistent. Manual PO management is at risk for errors, which must then be tracked down and addressed. Digital workers can flag incorrect or missing information, and work with 100% accuracy.
Greater visibility
With IA’s reporting features, you can check the status of purchase orders at every stage, from requisition to fulfillment. An IA dashboard allows you to track orders, monitor spending and even identify bottlenecks or delays anywhere in the procurement process. Enable better resource allocation with IA.
Strong supplier relationships
IA fosters stronger relationships by streamlining communication, facilitating faster and more accurate order processing and promoting collaboration. IA systems enable prompt responses to supplier inquiries, resulting in quicker resolutions and timely payments.
Putting Purchase Order Automation to the Test
Automating your purchase order process helps reduce the time and labor you require, and it also makes things easier for suppliers. When they receive the automated PO, suppliers can convert that easily into an accurate invoice – relieving your accounts payable (AP) team of having to manage the payments manually. SS&C Blue Prism will help you explore the various areas in these processes where your organization can benefit from intelligent automation.
Approval workflows
Speed up the purchase order approval process by reducing the number of steps and human involvement required to get work done. IA allows you to:
- Automatically route purchase orders to the appropriate approvers based on predefined rules.
- Prioritize and escalate purchase orders based on urgency or importance.
- Integrate with collaboration tools such as email, messaging apps or project management software.
- Send real-time notifications to approvers when purchase orders require their attention.
- Support decision-making by presenting relevant information alongside POs.
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