Do you find yourself creating the exact same Purchase Orders over and over again? Looking to automate your workflow to save yourself time? Purchase Agreements might be the answer you've been looking for.
*Note: Purchase agreements is currently in beta and not available for all clients. A full release is expected in the coming months.
What is a Purchase Agreement?
Purchase Agreements keep track of all costs related to a particular service - from one-time set up fees, to monthly recurring spend - everything is tracked under an overall budget for your Purchase Agreement.
Setting up a Purchase Agreement within Procurify allows you to create automated Purchase Orders for recurring spend, saving your Purchasers' and Receivers' time and efforts, while ensuring you stay on track for an overall service budget.
What are the Benefits?
Create recurring, automated POs
For services that are billed on a schedule, like software subscriptions, Purchase Orders can be automatically generated and emailed to your vendor on a recurring basis set by you, saving your Purchasers from repetitive work.
Set a maximum contract value
Purchase Agreements work under a maximum dollar amount, ensuring you're never going over the decided-upon budget, while giving you visibility into your purchased, committed, and remaining amounts.
For intangible services that are not physically received, Purchase Orders can be set to automatically mark themselves as fully received after creation, allowing Receivers to focus on receiving actual deliveries.