Advanced Procurement

Overview

The Advanced Procurement module provides enhancements to key areas of the procurement process, ensuring improved budget control and facilitating three-way matching (purchase orders, goods receipts, and invoices). 

• Fraud prevention: Incorporates checks and validations to prevent fraud and errors in procurement transactions. 

• Unified procurement: Consolidates procurement activities across departments, enabling a unified system and better budget oversight. 

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Common Challenges

Common challenges include:

• Lack of visibility and oversight: Poor visibility into procurement activities often leads to overspending, which can strain budgets. 

• Delays in budget decisions: Without consolidated procurement activities, decisions on budgets and spending may be delayed, impacting operations. 

• Inefficient matching process: Manual or incomplete three-way matching can result in disputes, delayed payments, and increased administrative workload. 

Benefits

Key Benefits include:

• Fraud and error prevention: Introduces processes and validations that minimise the risk of procurement fraud and errors. 

• Financial stability: Reduces the risk of unexpected procurement costs, ensuring better financial control. 

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