In today’s online business world, some smaller companies have let online ordering forms replace old-school purchase orders. The thinking is that the order details are saved and stored in an electronic resource, so doesn’t that make purchase orders a redundant relic of the past?
Sticking with traditional purchase order systems offers a number of benefits to companies both large and small. The top three benefits this process offers are:
Extra Backup — While online storage is generally trustworthy, nothing beats having a backup of documentation. Using purchase orders gives your internal staff a backup of orders, costs and delivery times for vendors.
Account and Quality Assurance — A company that relies on order information generated by another company won’t be as able to spot inconsistencies with purchase pricing, quantity or item specifics.
Vendor Notes — A purchase order system also connects vendors to the goods they deliver. This gives everyone in your company from accounting to sales reps the chance to make notes about the quality of the items they receive and the level of service they experience with a vendor. This can help you identify quality vendors and highlight problems with others.
Investing in a suite that offers purchase order software for small business doesn’t have to mean adding to your current suite. Many robust financial and inventory programs offer purchase order creation and management as a part of their overall service.
While many things have changed the landscape of business management, some systems remain as relevant today as they have been in the past. Purchase orders offer a way to maintain accurate records, review billing for inconsistencies and track the value received from specific vendors. At the end of the day, they are an important part of building business intelligence for companies both large and small.