ASCEND Purchase Requisitions
From Requisition to Invoice
Simple Requisitions
Workflow/ Approval Automation
Supplier Alert and PO Delivery
Receiving and/or Service Confirmation
PO to Invoice Matching
Variance Control
Purchase Requisitions: Features **Simplicity** • Item Category GL Association • Common Item setup for quick category, cost, and GL assignment.
**Automation**
• Simple requisition approval with flexible approval process configurations. • Email or Print/Mail Purchase orders upon requisition approval. • Easy item receipt matching with optional packing slip number input. • Streamlined Invoice to PO matching with optional amount variance checking. • End-to-end audit trail from requisition to payment.
**Control**
SoD- Securing the Process •
Requisition
•
Purchase Approval
•
Purchase Order Creation
•
Receiving/Service Confirmation
•
PO to Invoice Matching/Creation
•
Payment
Segregation of Duties: SoD - is the concept of having more than one person required to complete a task. In business the separation by sharing of more than one individual in one single task is an internal control intended to prevent fraud and error.
The Importance of Purchase Orders Companies are often satisfied with verbal commitments or email threads when making orders. However, there are more to purchase orders than the order itself. Here are 7 ways POs improve your business.
7 Keys: The case for PO’s • Avoid Duplicate Orders • Sound Financial Auditing Tool • Keep Track of Incoming Orders • Avoid Surprise Price Increases • Keep Your Invoices in Check • Ensure Clear Communication • Legal Documentation
1099 Overview
Elements of Engagement
• What are the six stages in the transition from requisition to invoice? • How are received PO items matched to invoices in ASCEND? • How does ASCEND Purchase Requisitions promote SoD? • Which of the 7 Purchase Order Keys is plaguing your institution’s Purchase-to-Pay process?