Using Spendmaters As Your Source-To-Pay Solution: A Comprehensive Guide
SPENDMATTERS
For those in the C-Suite who are looking for comprehensive and effective source-to-pay solution to manage their companies finances and procurement spends, Spendmaters is the answer. Outlined below is comprehensive step-by-step guide to get you up and running with Spendmaters.
1. Set up your vendor network: Before using Spendmaters, you need to map out your organisation?s vendor network. Spendmaters contain database of suppliers that is easily searchable and allows you to pinpoint those vendors that are most relevant to your needs.
2. Input purchase data: After your vendor network is set up, enter the purchase data for the goods that your company needs to acquire. Doing so will ensure that you are able to correctly track your organisation?s spending and identify any potential problem areas.
3. Examining purchase history: Spendmaters offers variety of tools to analyse your past purchasing history. Examining this data will help you identify vendors and products that are used too frequently and allow you to adjust your buying practices for the future.
4. Automating purchase requests: Spendmaters allows you to automate purchase requests with its proprietary software. This ensures that requests and orders are sent in timely manner and that all necessary documentation and invoices are generated accurately.
5. Customised reporting: With Spendmaters, you can generate customised reports to stay up to date with all of your companies purchases. These reports can identify discrepancies and anomalies and help you keep tighter rein on your organisation?s finances and procurements.
6. Vendor compliance: Spendmaters makes it easy to ensure supplier compliance, helping you ensure that all third-party vendors are following applicable protocols and regulations.
7. Payment management: Spendmaters also makes it easy to manage payments and issue payment instructions to vendors. The software is designed to ensure that all payments are made in timely and accurate manner.
These seven steps of using Spendmaters as comprehensive source-to-pay solution should give you better understanding of all of its features. Spendmaters offers an easy-to-use, cost-effective platform for managing all of your companies purchasing needs and provides the data insight and reporting you need to make informed decisions about your finances. By following these steps, you can ensure that Spendmaters is optimised to meet all of your organisation?s purchasing needs.
