Purchase Orders

Purchase Orders

A Purchase Order, or PO, is a document that confirms that a purchase was made on a credit account with a supplier, where payment will typically be made later. With a purchase order system, you can make sure that your company’s purchases are controlled and transparent. LEARN MORE

3-Way Matching

3-Way Matching

3-Way Matching is the best way of ensuring that payables processes can happen quickly. Here, the supplier invoice gets matched to the company purchase order, and as a final step, to the packing slip. This system triple checks delivery dates and quantities. it’s the final gatekeeper that determines whether the transaction is accurate and complete. LEARN MORE

Supplier Relationship Management

Supplier Relationship Management

Supplier Relationship Management helps your company maintain and nurture your supplier relations. You should be evaluating your current suppliers to ensure that you are receiving the best value. Also, proper guidelines help position your company in a way that gets you the most benefit from your transactional purchases. LEARN MORE

Purchasing Requisitions

Purchasing Requisition

A Purchasing Requisition, such as an RFQ, is a document that a contractor uses to go out for competitive pricing on transactional purchases. Suppliers are able to submit standardized quotes in response, after which the contractor can evaluate and award a quote to the winning supplier. LEARN MORE 

Purchasing Automation

Purchasing Automation

Purchasing Automation refers to the digitization of your purchasing process. It enables your company to have an easy-to-track paper trail that confirms approval, delivery, and payment on each order. This system ensures accurate and timely payments and keeps your on-site workers accountable for the orders they submit. LEARN MORE

Check out all of our Posts here:

• What is Purchasing Automation in Construction?
  by Natasha Mager
  July 7, 2021
  Remember when every time you had to get a screen protector, you would have to go to that phone kiosk in the mall? THEN, online shopping happened! The same change is currently happening in the Canadian construction industry.
• What is Supplier Relationship Management in Construction?
  by Natasha Mager
  July 2, 2021
  Every day, billions of transactions are made: over the phone, in person, and online…but how often do you receive exactly what you expected? The missing piece to having accurate and efficient orders is having strong supplier relationships.
• What is a Purchasing Requisition in Construction?
  by Natasha Mager
  June 25, 2021
  Wouldn’t it be great if all construction purchases could be made without the need for planning? Unfortunately, that kind of thinking doesn’t work well in the Canadian Construction industry. Contractors are required to create a requisition based on strict expectations, Which can be frustrating if you don’t understand why the process is important…
• What is 3-Way Matching in Construction?
  by Natasha Mager
  June 17, 2021
  How many times have you paid your suppliers late? or paid the wrong amount? Or lost the order confirmation? One thing your business can do to improve this is by implementing 3-Way Matching. As a contractor in the Canadian construction industry, you should want a lean accounting process…
• What is a Purchase Order?
  by Natasha Mager
  June 10, 2021
  As a general contractor in the Canadian construction industry, you are probably juggling project scheduling, labour productivity, installation quality, and overall safety, Every. Single. Day. The first step to making the process easier for your team is helping them understand why it is so important…