Purchase Order Processing

The purpose of this sample is the preparation of a purchase requisition that requires managerial followed by finance department approval and designating whether or not the purchase is a fixed asset. Information on the nature of the purchase, vendors, and delivery dates can be defined and used to prepare and issue a purchase order. When the goods are received they are recorded and matched with issued purchase orders to complete the workflow.

Automating the purchase order process is more efficient than manual processes since the tasks can be expedited using digital technology, managed more efficiently, and tracked more effectively. There are discrete approval tasks which act as control points for compliance purposes and since workflow records details such as who preformed a task, the start and finish dates, and the outcomes, detailed digital reports can be generated as a by-product without spending additional resources, but which demonstrates compliance of internal controls required by Sarbanes-Oxley or similar acts.
 
Business Benefits

• Supports regulatory compliance by implementing internal controls and clear accountability
• Provides evidence of effective controls by reports generated as a by-product of workflow
• Efficient – expedites the execution of the work through e-mail alerts
• Integrated – leverages Microsoft applications