Key Steps to Enhance Procurement Risk Management

Don’t let procurement risks impact your success! Learn essential management techniques to keep your supply chain secure.

Procurement Accounting 101: Key Concepts and Practices

Navigate the world of procurement accounting and enhance your business efficiency. Learn all you have to know.

What is procurement: the comprehensive guide

Discover how effective procurement strategies can enhance operational efficiency and drive business success.

Punchout Catalog: What you need to know

Allows buyers to select products from a supplier catalog, then purchase them without leaving their purchasing software.

ERP and eCommerce Integration: Core of Modern Business

With the right ERP, it’s easier than ever to track and use all of your data efficiently. All you need to do is set it up.

The Comprehensive Guide to Corporate Purchasing Cards

Discover the game-changing impact of Corporate Purchasing Cards on hardware-centric startups' procurement processes.

Your Guide to Credit Card Reconciliation

It is essential that all departments—including engineering, accounting, finance, and procurement—work together.

Comprehensive Guide on Purchasing Software

Discover the best guide to purchasing software for hardware-centric startups and mid-size companies.

What is Spend Management? Enhancing Efficiency

Spend management helps you to maximize value from company spend while giving you the tools to decrease costs.

Sales vs Purchase Orders: Understanding Differences

Unveil the critical differences and similarities between sales and purchase orders in business operations.

PO Number: Generation & Use Explained

Streamline your business supply chains with purchase order software.

Understanding Purchase Requisitions vs. Purchase Orders

Unlock the potential of your business with a comprehensive guide on understanding purchase requisitions and purchase orders.

Glossary | Purchase Order

Purchase Order Terms

Once you have familiarized yourself with these terms, you can use them effectively when composing your purchase order.

What is a Purchase Order?

A purchase order is a legal document that you’ll issue to request a certain product or service from a supplier or vendor.

Optimize Your Purchase Order Processing

A slow purchase process can cripple your business in the modern competitive global workforce. Archaic systems and manual PO processing hampers your purchase order process resulting in more harm than good because of the time needed to rework a purchase order.

How To Get It Done With An Online PO Generator

Follow this simple process to create a PO using ControlHub’s online PO generator software in seconds.

What Is A Purchasing Order System?

A purchasing order system automates many of the tasks associated with procurement, including creating and sending purchase orders, tracking deliveries, and managing invoices and payments.

What is the Purchase Approval Process?

Simply put, the purchase approval process is the process your team will follow every time your business needs to purchase goods or services.

4 Types of Purchase Orders and Their Differences

Learn about the four main types of purchase orders, their uses, and how understanding these differences can benefit your procurement process.

Standard Purchase Orders

Purchase orders help you keep track of the products you've ordered and, once delivered, you can match them against the invoices your vendors issued before making payment.

Purchase Order Best Practices

With purchase order best practices, you can be sure that your team is getting the materials they need to do their job and that you're not overspending on unnecessary items.

Automated Purchase Order

An automated purchase order, or PO, is an electronic document generated by a software system using data from your company's ERP system.

Purchase Order Automation

Purchase order automation is the process of using software to generate purchase orders automatically. A centralized software uses the data in your system to send out a purchase requisition to the appropriate department or staff for approval.

Support Business Growth with Purchase Orders Financing

PO financing is short-term funding that allows you to finance your inventory purchases, using the money from the sale of the goods to repay the loan.

Streamline Your Supply Chain with a Blanket Purchase Order

A blanket purchase order (BPO) is a supply chain sales order authorizing the vendor to regularly supply specific goods or services to the buyer.

Cloud Based Purchase Order System

The main difference between this and traditional paper-based purchase order systems is that the former allows you to manage your inventory levels in real-time.

The Purchase Order Process: Key Steps

The purchase order process is initiated when a business needs to buy products or services from another company.

What is PO Financing?

PO financing, also known as purchase order financing, is a funding small businesses can use to finance their working capital needs.

What’s a Packing Slip?

A packing slip is a document that contains essential information about a package, such as a customer’s name and address. It also lists all items shipped in a package. In fact, a packing slip is usually a single piece of paper that accompanies the products in your shipment.

What Is an Operating Cycle and How to Calculate It?

The operating cycle is the number of days it takes for your business to receive inventory, sell the inventory, and collect the cash from the sale of the inventory. Therefore, it’s the time it takes for your company to turn inventory into cash.

What is a PO Number?

A P.O., also known as a purchase order number, is a unique number assigned to a specific transaction, usually when exchanging goods and services. You’ll typically find a P.O. number on a purchase order document, which is legally binding.

What is a PO Approval Process

By establishing clear approval rules, businesses can ensure that their employees make purchasing decisions in line with the company's best interests.

What Is a Bilateral Contract?

A bilateral contract is an agreement between at least two people or groups. Within a bilateral agreement, the people or groups involved promise a certain action will take place in exchange for something else.

Sales Orders vs Purchase Orders

A sales order is a document that is issued by the vendor to their client. It tells the purchaser what products were included in a particular purchase, and how much each item costs.

Purchase order number

Companies usually issue a purchase order for each item they purchase. It is issued by the buyer to the supplier, and creates a binding contract that stipulates the type and quantity of goods purchased, a price, payment terms, and other details.

How to Keep Track of Purchase Orders

Managing purchase orders can be complicated using older methods. Especially in an era of computing, there is less tolerance for errors than they used to be.

Features of a Purchase Order Approval Workflow

In any organization that makes frequent purchases, it's essential to have a streamlined process for approving purchase orders.

Electronic Purchase Orders

An electronic purchase order, also known as a digital purchase order, is the modern equivalent of an old-fashioned paper purchase order.

What is Approval Matrix

An approval matrix is a document that defines the roles and responsibilities of those involved in the product development process.

Difference between Purchase Requisition and Purchase Order

Purchase orders and purchase requisitions are key documents in an efficient procurement process. They both allow a purchasing department to adequately plan purchases and budgets as well as provide proof of spending in case of financial audits.