Using SharePoint and Microsoft 365 to create a Purchase Order System

A purchase order system is a must if you want to efficiently handle the purchasing process and maintain an accurate financial record. An efficient purchase order system can help you save time, assist in planning and budgeting, manage overages, reduce errors, and monitor progress. There are several out-of-the-box purchase order systems available in the market for SharePoint and Microsoft 365, and not all of them are created equal; some are versatile, and some are limited. So how to determine if you need to update or automate your purchase order system?

Costly

Manually handling your purchase order system can be expensive; you will require to hire employees to handle the workflow, and as your business grows, the number of employees will grow as well. This can be difficult for many, especially if they have a limited budget to operate.

Time Consuming

If your current purchase order system is consuming more than the necessary time between order placement and delivery because of authorization, data entry, or request, then it is time for an upgrade.

Communication Gap

Effective communication is a must between departments to deliver the desired product or services to the client. In a manual purchase order system, the chances of miscommunication increases, resulting in ineffective processes.

Increased Errors

Increase pressure due to workload may result in errors in certain areas. If mistakes are made in data entry, your client won’t receive what they ordered, which can hurt your business. Pressure also tempts the employees to disregard essential SOPs of the purchase order system.

If your purchase order system is facing these issues, then it is time for you to adapt to a new system.

Purchase Order System in SharePoint or Microsoft 365

With SharePoint and Microsoft 365, you can address all the issues that your current purchase order might be facing. It can effectively handle all the processes of the purchase order system because of its built-in tools. Let’s review some of the best features you get by using SharePoint and Microsoft 365 as a purchase order system.

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Order Tracking

The most stand-out feature of using SharePoint and Microsoft 365 as a purchase order system is that users can track their orders every step of the way. Purchase requests can also be followed and stored on the platform, from request approvals to delivery.

Customizability

Every company follows different guidelines and have different processes, with SharePoint and Microsoft 365 users can customize the purchase order system according to their needs. They can set-up the purchase request form, assign admin roles, set up multi-level approval, define purchase orders based on location, type, cost, etc.

Automated Communication

Another excellent feature of SharePoint and Microsoft 365 is that it helps you communicate between departments without delays. Once a purchase request is submitted, the platform automatically sends out emails to the related parties. And when the client receives the product, all parties are notified.

Interactive Dashboards

SharePoint and Microsoft 365 helps you to monitor the progress of the purchasing process by generating dashboards from the information. You can also track the history of purchase requests by each department, view approval and denial percentage, and the overall status. These dashboards are saved on the platform, so you can use them as references whenever you need them.

Integration with External Systems

Flexibility is another reason you should use SharePoint and Microsoft 365 as a purchase order system. You can easily integrate it with external systems such as finance, equipment or asset, etc. This feature improves the overall efficiency of all departments in the company. For example, a department requests a printer; once the process is completed, the platform will automatically generate an entry in the finance system as an IT asset.

Sharing and Printing

When you use SharePoint and Microsoft 365 as a purchase order system, you get the option to add a formatted template that can be printed and shared with others. It can include your company’s information, i.e., Company logo, address, phone, email, etc. and receiver’s information. It can also include a signature of the approving authority.

Infowise

At Infowise, we serve as a strategic partner, assisting public and private enterprises in their digital transformation endeavours with our scalable, smart, and robust tools, software, and applications. Our product Infowise Ultimate Forms contains more than 15 standalone SharePoint applications developed to give you the power to innovate, automate, and scale up your processes. Our products have been designed for optimum interoperability and seamless integration within SharePoint. Altogether, they constitute the structural foundation for digitization and facilitate your transition to digital transformation.

Click on Try Now Free at the top of this page to download Infowise Ultimate Forms 30-days free trial. Simple process that only last seconds. After you've installed Infowise Ultimate Forms, go ahead and create an unlimited number of business process applications. Or even better, do you want to start with a ready template? Great, install a pre-configured, ready-to-use template from our vast business process solution library directly from the app and adjust to service your specific needs.