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SEO: Blanket Orders, Prepay
What are Blanket PO's:
Procurify’s blanket purchase orders allow you to procure goods or services multiple times over a set period of time. You can specify a total quantity/cost, unit price, and other relevant terms and conditions for the ongoing/repeated purchase. It allows you to draw against a single purchase as goods or services are delivered and billed.
Blanket purchase orders are ideal where the specific details of each purchase may not be known in advance. This helps your purchasers negotiate better prices by guaranteeing your vendor a certain volume of business.
What are Prepayments:
Prepayments allow your finance team to prepare bills for prepayments on items that have not yet been received or fully received. This means that you no longer need to wait for an item to be received within Procurify to start creating a bill for it.
As soon as an item is added to a purchase order, that line item will appear in the Unbilled Items of the Accounts Payable section of Procurify, allowing you to create a bill for the item in advance. This feature facilitates the ability to pay a deposit or a payment on an order that has been received in part.