Procurement Basics

three way matching

12 min read

Why Implementing 3-Way Matching is Important

58% of AFP Payments Fraud and Control Survey respondents report that email scams have at some point targeted their accounts payable departments. What can businesses do to protect themselves from paying money for fraudulent invoices? They can introduce three-way matching to the purchasing flow.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics
early payment discount

9 min read

Everything You Need to Know About the Early Payment Discount

For every $1 billion spent on POs, there are about 3 million dollars in early payment discounts left unclaimed. Read on to discover how to qualify for and negotiate a discount.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics
procurement management tool

9 min read

Why a Procurement Management Tool is a Must for Efficient Purchasing

Procurement managers aim to deliver results while optimizing expenses.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics
invoice approval

9 min read

How to Create an Invoice Approval Workflow: A Guide

Check out this complete guide on invoice approval workflow to learn more about the process, AP's best tips and tricks, and how manual workflow differs from automated.

Tetiana Katrych
Tetiana Katrych
Procurement Basics
procurement management

10 min read

The Basics of the Procurement Management

Procurement is an undeniably important component of any company's operations, but it's often done intuitively and manually.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics
erp advantages and disadvantages

10 min read

ERP Advantages and Disadvantages: How To Decide

Learn all you need to know about ERP systems: definition, types, advantages and disadvantages, and whether an ERP system is enough for procurement.

Tetiana Katrych
Tetiana Katrych
Procurement Basics
purchase requisition

9 min read

Purchase Requisition – What Is It and Does Your Business Need It?

Have you ever felt overwhelmed with numerous employees’ requests to buy things? Purchasing for the business is universal, but what matters the most is how it’s handled. Read on how to utilize Purchase Requisitions to start the procurement process on the right note.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics
invoice automation

11 min read

Invoice Automation: How It Works

What is invoice automation and how it works, manual invoicing challenges and their solution, as well as useful tips included.

Tetiana Katrych
Tetiana Katrych
Procurement Basics