The first step in purchasing begins with purchase requisitions.
An employee fills out a purchase requisition and submits it internally for review and approval.
A purchase requisition is a document that an employee within your organization creates to request a purchase of goods or services for the business. This is a process to take approvals from various stakeholders internally. This is not a purchase order but an intention to purchase. Reviewers may include both the employee’s reporting manager and the company’s central procurement or purchasing department. Once the purchase requisition is approved, the business then issues a purchase order for the requested items to the appropriate vendor. Titan Workspace’s purchase requisition process automation helps in bringing accuracy and transparency, leading to better corporate governance.
This ready to use workflow provides following features:
Transparent procurement process
A purchase requisition automation process would enhance the visibility and transparency of the procurement process. Based on the organization or company's demand, modifications could be made to the requisition order, and steps could be added or deducted to further enhance and streamline the procurement process.
Streamlines the purchasing process
A centralized purchase requisition approval process helps to streamline the purchasing process. With a pre-define approvals as per company policy. Employees know how to raise the request, get approval, and how long it will take for the purchase order to be fulfilled. This streamlines the overall purchasing process.
Proof for audit
Purchase requisitions approval are necessary and crucial during audits, as they serve as proof of the items or services orders and are approved by the company.