From manufacturing orders, through the administration of goods/service receipt, to the payment of vendor invoices checked from various aspects
A significant number of companies reach a milestone when the establishment and efficient control of their purchasing process becomes of special importance. Accurate, timely and transparent records on purchasing is justified not only from the point of view of compliance with the relevant legal provisions, but is also necessary for satisfying the management’s needs for information.
Conducting an easy-to-track purchasing process reinforced with an appropriate approval procedure, the receiving and use of the goods and services, as well as the checking of the legitimacy of vendor invoices requires a well-operating purchasing process. The efficiency of this process can be measured on the basis of three key criteria:
1. the efficiency of the controls built into the process;
2. the establishment and operation of the process, i.e. the return on the expenses invested;
3. the efficiency of the underlying IT infrastructure.
Mazars has developed a modern IT and administration system for medium-sized and large companies, which offers an efficient solution for the support and administration of the purchasing process. Independently from the ERP system used, our solution results in a significant reduction of administrative burdens, while the possibility of exercising control over the process remains in the hands of the company. In the framework of our service, our colleagues handle the process independently from the receipt of the purchase order to the 3-way matching (order – receipt – invoice), while representatives of the company may be involved to the extent that best corresponds to their risk preferences, by keeping key controls and approvals within the company.
To whom do we recommend our service?
- To companies that have already established a purchasing process, but it consists of manual work phases involving too much administration;
- To those who are now planning to introduce and establish a purchasing process;
- To companies which have a high volume of orders, or expect a significant increase in their business volume and the number of vendor invoices;
- To those who would like to establish or reinforce the points of control in their existing purchasing process;
- To those who intend to reassign their staff members to higher added value tasks, and consider it acceptable – with proper controls still maintained – to outsource easy-to-check administrative tasks;
- To companies where the ultimate objective is to achieve a reduction of costs, on the one hand, through automating manual processes, and on the other hand, by way of properly organised processes.
How can we help?
- Through active cooperation, in the framework of a one-time project, we establish and introduce, or overhaul the purchasing process at your company;
- We provide a transparent and reliable IT platform with remote access;
- Based on the your preferences, we establish points of process control;
- We take over those stages of the process which can be carried out more efficiently in large volume, thereby freeing up capacities at your company;
- We create a general ledger posting file for your accounting or ERP system, or provide direct link/data transmission;
- We prepare reports, through which the individual purchases become easy to follow, and the transparency of the process is improved;
- We undertake to define KPI’s for the purpose of measuring efficiency;
- Through automation, we reduce the likelihood of errors and reduce operating costs.
If you have any questions related to our service, please do not hesitate to contact our colleagues directly or through your Mazars contact person.