How to cut SME costs using SAP Business One

How often does your business analyze various departments to assess new ways to save money and cut costs? SMEs are always looking for new or innovative ways to cut costs. If your business wants to operate more cost-effectively, it's time to look at SAP Business One.

SAP Business One has been designed to help SMEs manage enterprise-wide procurement by optimizing and automating the purchasing process. SMEs can easily control costs with integrated tools to manage purchase planning, vendor selection, purchase order management, and invoice payment from a centralized solution.

This all-in-one application contains and manages all your key financials, meaning your SME can start making more favorable purchasing decisions, identify potential savings opportunities, and manage your supplier relationships more effectively.

A selection of pre-built templates are included in SAP Business One to help you start making savings quickly and easily.

There is also the ability to customize the dashboard to fit the things that are important to you at the touch of a button. The system helps review key vendors and suppliers, any purchases you have from year to year, open and outstanding orders, plus a plethora 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 receive goods through internal requisition forms. These can be designed to go through various approval processes so that key stakeholders can always track the level of purchase requests.

The system has tools for users to create blanket orders to meet customer demand, and users can also generate new purchase offers and email them directly to vendors from SAP Business One. Returns, special expenses, and multi-currency are also simplified in Business One to help finance teams focus on more important tasks.

By connecting sourcing teams and activities with other departments, documents are stored and linked together electronically. This helps simplify and streamline the audit process while providing real-time reports on spend levels.


Item and Vendor Master Data

No need for a separate procurement or supplier management system when running SAP. Small businesses can manage, maintain, and edit supplier details from a single database, track vendor payment terms, and perform purchasing analysis to obtain the most cost-effective orders.

Detailed information is stored on items, alongside tax details, with companies able to manage sourcing activities across external facilities and separately store documentation on each.

For teams working in the field, vendor-related activities can be posted from mobile devices back to SAP for office-based managers to track purchase requests in real-time.


Automation and Integration

Managing inventory and procurement items in the same solution provides long-term and measurable benefits for growing organizations. Companies can synchronize real-time goods receipt and inventory levels and use SAP Business One's MRP wizard to perform purchase planning requests.

The solution can automatically generate accounts payable invoices from purchase orders or goods receipts to streamline the purchasing process and quickly calculate the book value of your inventory and the purchase price of the last item.

This helps paint a clear picture when generating accurate and in-depth accounting inventory valuations and reports, with users also having the ability to monitor stock levels, item prices, and sales prices from mobile devices.


How can SAP Business One help you?

Want to take a closer look at how the purchasing and procurement features in SAP Business One work and interact with each other? Contact us today to learn more about SAP Business One 'CLICK HERE'

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