Accurate, efficient bookkeeping is an integral part of any business. Large companies typically have many vendors, and you must keep thorough records of those companies and your transactions with them. Managing procurement and invoicing manually is becoming obsolete. Computerized maintenance management systems are efficient and accurate and provide many benefits for vendor invoice management.

What Challenges Does Vendor Invoice Management Present?

Most large businesses have procurement processes in place. You may require various requests, forms, quotes, purchase orders, and approvals. You must keep each vendor’s legal documentation, including their tax identification numbers.

Multiple departments may handle their own ordering, and their records might be inconsistent. An automated, centralized system like DreamzCMMS can help you overcome many challenges:

>> Consolidating all invoices and purchase orders in real time to ensure that financial reporting is accurate
>> Comparing multiple quotes
>> Splitting purchase orders for multi-location deliveries
>> Making data-driven decisions to eliminate unnecessary procurements and missed inventory needs

Attempting to coordinate all these tasks manually can lead to increased labor hours, errors, and security risks. You can also sustain financial losses due to under- or over-stock issues.

What Are Examples of CMMS Vendor Invoice Management Benefits?

With DreamzCMMS, you have an intuitive procurement dashboard. This powerful tool gives users access to open purchase requests, requests for quotes, purchase orders, receipts, invoices, and vendor information. Depending on their authorization level, all listed functions may not be available to every user.

Purchase Requests

Get detailed information about every purchase request. You can view, track, add, delete, edit, and approve these requests. You can also receive updated status notifications as these requests pass through each procurement step.

Quote Requests

Create quote requests for approved purchases easily. You can choose vendors, provide details, and attach supporting files. Details will include vendor data, responses, and status.

Purchase Orders

Transform an approved purchase request or quote into a purchase order with vendor information, value, delivery date, and location. You can edit purchase orders and request notifications when their status changes.

Receipts and Invoices

Add, manage, and track receipts and invoices. Tracking filters include vendor, receipt or invoice number, location, and delivery date.

Auditing

With DreamzCMMS optional blockchain security, you have immutable records. This ensures statutory compliance and stress-free auditing.

How Does DreamzCMMS Integrate With Other ERP Products?

You may already have enterprise resource planning software in place, and there’s no need to eliminate it. DreamzCMMS seamlessly integrates with many ERP solutions so you can realize the benefits of each.

How Does Simplified Vendor Invoice Management Improve Your Business?

Many business leaders use data-driven decisions to obtain better outcomes. Searching for crucial data in multiple places is inefficient, risking inaccurate or missing data. Not having pertinent information at your fingertips can cause inventory shortages or overloads, make comparing quotes challenging, and lead to unnecessary expenditures. With DreamzCMMS, you can alleviate those problems.

Vendor invoice management is only one component of the DreamzCMMS solution. We can customize and tailor your package to meet your needs, as well as offer cloud or on-premise implementation. To learn more or schedule your free demo, contact us at (800) 893-2964 or submit our online form.