Procurement Basics

budgeting

13 min read

Stay on Top of Business Finances with Budgeting and Budgetary Control

No matter the size or the market, controlling spending is a top priority for any business. Organizations have to maintain control over budgeted costs and actual spending to ensure stable growth and sustainable development.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics
free po software vs paid software

10 min read

Free PO Software vs. Paid Software

Learn how to improve your business process by implementing purchasing order software and discover the differences between free and paid programs!

Marta Holyk
Marta Holyk
Procurement Basics
punchout catalogs

6 min read

PunchOut Catalogs: How They Work and Why Use Them

Learn everything about PunchOut catalogs: Definition, benefits, how they differ from hosted catalogs, and whether there is a better alternative.

Tetiana Katrych
Tetiana Katrych
Procurement Basics
erp implementation

9 min read

Best Practices for ERP Implementation: 8 Tips for a Successful Rollout

Discover the most important steps of ERP implementation, how to select a project team, prepare for data migration, evaluate project success, pitfalls to avoid, and more.

Tetiana Katrych
Tetiana Katrych
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