5 R’s of Expenzing DOA for meaningful Cost Control

Right Time – Even though we all experience the importance of purchasing the product at the right time in our personal life, the time factor often gets ignored during corporate purchases. In a modern Procure to Pay software like Expenzing, crisply defined DoA Rules, automated notifications, follow-up/reminders/escalations help in fast and timely approval. By making the approval cycle smooth, Expenzing ensures purchase-time does not escalate the cost of purchase.

Right Product – Nothing spells ‘waste’ more, than when after much effort and resources, the wrong products are delivered. Such scenarios either result in repeat purchase or the product not being used as required by the business. If the business user is part of the process and has the right visibility, it helps purchase teams procure the right product with correct specifications. Expenzing P2P software is both affordable and easy-to-use facilitating enterprise-wide user access and operation of the system.

Right Price – Purchase teams work very hard to bring high-quality products and services at the best rates. One very effective way to do that is by negotiating rate contracts with empaneled vendors. However, many mature organizations struggle with actually ensuring that users make full use of these opportunities. Making sure the right people are part of the DoA rules makes for efficient financial control through the right Procure to Pay system.

Right Process – Once eProcurement DoA rules get set up, the system ensures there is no deviation while making the process faster, smoother, and more convenient. Expenzing ensures that the complete process is auditable, making it easy to backtrack and trace any footprint. The system records approval changes even in the case of the leave of absence if the approver delegates the approval to a colleague.