The matching process becomes a bit more challenging when the vendor only delivers one or two of the three items or services included in the purchase order and wants payment for those delivered. The PO needs to remain open.
But not to worry. Some platforms, like Nexus, can keep the PO open, while paying only for the services that were delivered.
Speed up Procurement by 70%
On the whole, electronic purchase orders allow for added control and visibility. They can be created – and approved quickly – directly from the AP automation platform. Rules can be created to limit the purchase amount and/or require different levels of approvals.
On average, Nexus clients shave 70% off the time spent managing purchasing, partly because they can easily route purchase orders from the properties to corporate and then to accounting (see Business Case).
Thus, if you want to put some controls on the spending process, while also speeding it up, don’t pass on the PO.