The Purchasing Process

 Automation

There are many reasons why a formal process must be followed including the prevention of fraud, cost saving, compliance with regulations, management of risk and control. To understand or to explain why a formal process should be followed it can be useful to think in terms of the 5 A's.

·         Approved Suppliers

·         Approval Process and Segregation of Responsibilities

·         Audit Trail

·         Accounting

 

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