The fastest way to save costs, implement policy and grow your business with the leader in Purchasing workflow Check out the options and features included
ACOS converts an approved purchase requisition, Sales Order or contract seemlessly into a draft Purchase Order ready to submit for approval.
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The Supplier Payment Remittance feature in ACOS allows for the batching of approved payment requisitions by supplier. Each batch can be individually balanced to a supplier account, sub-divided and matched to the supplier statement, whilst allocated to a company bank account.
Only Approved Payment Requisitions can be added to the Supplier Payment Remittances. 3-Way matching between the Purchase Order, Goods Received and Supplier Invoice ensures that the correct amount is brought forward from the Payment Requisition and added to the Supplier Payment Remittance.
The initiator of the Payment Requisition is kept in the loop at all times. The level of processing and drill down options for the Payment Requisition is visible from the PO, GRN, Supplier Invoice and Payment Batch functions.
Supplier Payment Remittance Run to automatically include Payment Requisitions with Payment Batch allocation.
Supplier recon showing reasons for variance (reconcilling items to be specified by the user)
Supplier Payment Remittances only include Approved Payment Requisitions, which is made up of Authorised Purchase Orders (only where Goods and Services Received were acknowledged)
Supplier Payment Remittance swithing between payment batches for a larger team in accounts payable
Remittance run auto-allocates supplier remittances to Payment Batch
The supplier payment requisition is created with the supplier purchase order as the source document.
A payment requisition can be created independent from a supplier purchase order, by creating an "ad hoc payment requisition" read more
The approved Payment Requisions are added to the Supplier Remittance, the Supplier Remittance(s) in turn is added to the payment batch for payment to be approved and processed in the bank payment batch.
ACOS includes a confirmation message to the sender of an invoice document, to acknowledge receipt of the document received. The system also includes a message back to sender of successful payment of the invoice, once the payment has been approved and actioned in the banking application.
ACOS routes the initiation process of the transaction to the Asset administrator by Asset Class, and enables the administrator to manage & administrator the Assets under their portfolio.
read moreIncluding access to all supporting documents attached, with commenting between all members of the initiator & approval queue.
read moreAuto-linking of supporting documents linked to the Job card.
read moreOnline supplier registration by means of a link.
read moreOr, alternatively, let the Initiator choose the review & approver.
read moreRun auditing and compliance reports.
read moreI am impressed with the functionality of ACOS. The system is user-friendly, stable and has excellent features. The collaboration of our team has improved with the ACOS and CloudTASK.
Brian SATC
ACOS boasts a Supplier Scorecard feature, enabling the initiator to rate the supplier by Product/Service quality, Performance, Pricing Compliance and Innovation.
John DoeOkler