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06 October 2022
How to cut SME costs using SAP Business One
How often does your business analyse different departments to assess new ways of saving money and cutting costs? SMEs are always searching for new or innovative ways to cut costs. If your business is looking to operate more cost-effectively, it’s time to look at SAP Business One.
SAP Business One has been designed to help SMEs manage company-wide procurement by optimising and automating purchasing processes. SMEs can easily control costs with integrated tools to manage purchasing planning, vendor selection, purchase order management, and invoice payments from a centralised solution.
This all-in-one application contains and manages all your key financials, meaning your SME can start making more profitable purchasing decisions, identify potential saving opportunities, and manage your supplier relationships more effectively.
A selection of pre-built templates is included in SAP Business One to help you start making savings quickly and easily. There’s also the ability to customise dashboards to include the things that matter to you at the touch of a button. The system helps to review main vendors and suppliers, any purchases that you’ve had year-to-date, orders that are still open and outstanding, plus a whole host of other cost-saving features that help you make more profitable decisions. Everything you need to cut SME costs is included.
Purchasing and Procurement Tools in SAP Business One
Procurement is made easy in SAP Business One. Finance users can quickly create purchase orders and goods receipts via internal request forms. These can be created to go through various approval processes so key stakeholders can always track levels of purchasing requests.
The system has tools for users to create blanket orders to meet customer demand, and users can also generate new purchase quotes and email these directly to vendors from SAP Business One. Returns, special expenses and multi-currencies are also simplified in Business One to help finance teams focus on more important tasks.
By connecting purchasing and procurement teams and activities alongside other departments, documents are stored and linked together electronically. This helps to simplify and streamline auditing processes whilst providing real-time reports on spending levels.
Item and Vendor Master Data
There’s no need for separate procurement or supplier management systems when running SAP. Small businesses can manage, maintain and edit supplier details from a single database, whilst tracking vendor payment terms and performing purchasing analysis to get the most cost-effective orders.
Detailed information is stored on items, alongside tax details, with companies having the ability to manage purchasing and procurement activities across external facilities and store documentation separately on each of these.
For teams that work in the field, vendor-related activities can be posted from a mobile device back into SAP for office-based managers to track purchase requests in real-time.
Automation and Integration
Managing inventory items and procurement within the same solution provide long-term and measurable benefits for growing organisations. Companies can synchronise real-time goods receipts and inventory levels and use SAP Business One’s MRP wizard to perform purchase planning requests.
The solution can auto-generate accounts payable invoices from a purchase order or goods receipt to streamline purchasing processes and quickly calculate the book value of your inventory and the last purchase price of items.
This helps to paint a clear picture when generating accurate and in-depth valuation and accounting inventory reports, with users also having the ability to monitor levels of stock, item prices and sales prices from a mobile device.
SAP Business One Purchasing and Procurement Demo
Want to take a closer look at how the purchasing and procurement features in SAP Business One work and interact with each other? Arrange an SAP Business One demo today with one of our product experts to see how our SAP Business One solutions can help cut costs across your organisation.