Spend Visibility and Reporting: How eProcurement Reporting Will Help in Your Business Operations?

June 15, 2019, By BirchStreet Admin

Automated procurement software, known as eProcurement, can greatly benefit procurement teams around the world. The value of an eProcurement or Procure-to-Pay platform has tremendous impact on organizations by having one centralized marketplace, online access to suppliers, accurate pricing and data, automated approval workflows, tracking and reporting functionality. The system brings a competitive advantage by giving organizations efficiency, visibility, control, compliance and an increase in profits.

Once your eProcurement system is in place, the data, business intelligence and reporting becomes a crucial part of your operations. The management and corporate teams depend on the spend data extracted from the software to make important decisions. For example, these decisions could help with negotiating supplier contracts, determining if there is waste or under use of food or products, the ability to see the status of an ordered item, what departments are on par or under budget, as well as help predict future forecasts for spending.

When companies are able to use their own data – especially when it’s in a visually, easy to read dashboard format – it helps the entire company make better and smarter decisions. These back-office operational decisions impact the front-of-the-house offerings to provide better guest and customer experiences.

BirchStreet has over standard 120 reports in its system, but the below are a few of the most commonly used reports in eProcurement:

  1. PO Listing by Project Codes
  2. Budget Rollup (Consumed) Report
  3. Receiving Report by Purchase Order
  4. Purchase Order Listing
  5. Purchase Order Report
  6. Receiving Detail Report
  7. REQ Summary Report
  8. Price Change History Report
  9. Activity Detail Report
  10. PO Detail Report
  11. Budget Status Report
  12. Supplier Activity Summary Report
  13. Daily Receiving Log
  14. Monthly Item Department Usage Report
  15. Tiered Pricing Supplier List
  16. Monthly Item Usage Report

If you are curious how BirchStreet’s Procure-to-Pay platform or eProcurement module can help improve your business operations, please contact us at sales@birchstreet.netfor a personal demo.