Purchasing & Invoice Matching
POP & PIM
Unit4 Financials by Coda Purchase Order Processing (POP) & Purchase Invoice Matching (PIM) will enable you to understand, control and manage costs.
While there are numerous benefits to be gained from using an effective Purchase Ordering System, we have highlighted the 6 which we believe are the most important below:
Costs approved before being incurred
The primary benefit of purchase ordering is expenses/purchases approval before they are incurred.
Internal control enhancement
Two critical points of control: Receiving items or a service against what was ordered & pricing.
Management of committed costs
When a purchase order is executed by the buyer and seller it commits both parties to the terms of the document.
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Improve project profitability
A common mistake when managing project profitability is only considering incurred costs (actual invoices received) and this provides only a partial picture.
Consolidate your costs
Every organisation wishes to negotiate lower prices with suppliers but are not always able to do so.
Reporting
Financials has a unique single database covering the financial, invoice matching and purchasing modules. This enables the production of complex reports crossing all three modules.
Blog
Unit4 Procurement and Invoicing Matching Modules: How they’ve changed, and how your business can benefit
Manual purchase order processing and invoice matching are among the most time-consuming and least controlled activities handled by finance teams. So how do you improve them? To reduce your admin workload, streamline approvals, and cut out maverick spending, Unit4 has the answers.
In our blog, we look closer at the Procurement and Invoice Matching functionality, how and why they are structured as two distinct modules, and the benefits they offer to your wider business.
Watch episode 11 of our Unit4 Financials by Coda Feature Spotlight series, which covers the Purchase Order Processing & Invoice Matching modules, including a demonstration for Financials users that do not have these modules and thinking of acquiring them.
Contact us for further details
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