Purchasing and invoice processing solutions provide spend visibility, cost reduction and increased efficiencies for Caterpillar.
Verian recently announced that a leading Caterpillar dealer has gone live with its suite of purchasing and invoice processing solutions. Verian’s solutions are enhancing the purchasing and invoice management functionalities of CODA financial management software.
The client serves the Western United States with an expansive line of equipment including Caterpillar machinery, agricultural equipment, rental equipment, portable and stationary diesel-powered generators, natural gas turbines, air compressors, and advanced equipment guidance systems.
Approximately 500 employees across multiple locations are using the Verian system. Users logon to the system to make purchase requisitions that are then routed via email for approval. Upon approval, orders are purchased and users receive goods within the system when they arrive. As invoices are delivered, the Verian purchase-to-pay (P2P) system conducts an automatic three-way match between the PO, the invoice, and the receiving documents. The client is also using the new system to get a deeper analysis of its spend through a host of standard reports. Gathering this data will help them identify purchasing trends, evaluate vendors for potential volume purchasing opportunities, and gain leverage in negotiations.
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Purchasing and invoice processing solutions provide a wide array of time and cost saving benefits to companies in every industry. In addition to providing valuable insight into spend visibility; these solutions drive costs down while increasing efficiencies. Learn more about how purchasing and invoice processing solutions can help your company. Download a FREE copy of PayStream’s 2012 Imaging and Workflow Automation – Better, Faster, Stronger report. Coming soon, PayStream will be releasing the Automating Payables for the SME Market report. Be sure to stay tuned.
PayStream wants to hear from you. Has your company migrated to a purchasing and invoice processing solution? If so, what benefits did you achieve through the solution?