Insight into all unpaid financial obligations
Our e-Procurement solution provides insight into your budgets during the buying process
The term e-Procurement means automated support for the secondary buying process. In primary buying processes, a minimum stock level triggers the system to generate and automated ordering advice, for example. In secondary buying processes, the employee in the organisation may trigger ordering a computer or hiring an interim agency worker.
When you issue an order to deliver a product or service, an obligation arises. Delivery of the product or service will in any case give rise to a concrete payment obligation. In order to ensure continued monitoring of use and exhaustion of budgets, it is important to record both bills paid and bills still outstanding.
Permission is often required before payment obligations may be incurred. A request is submitted, and the relevant decision-maker reviews the budget available. If approval is granted, the budget is earmarked before the cost is incurred or recorded. This means undertaking an obligation for future outgoing payments.
